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Selected Case

published: 25 Jun 2018

  • Topic: Strategy
  • Industry: Travel Industry
  • Region: Asia

Abstract:
This highly popular exercise allows participants to actually apply the concept, frameworks, and process of blue ocean shift to one of the most competitive industries – the travel industry. Using worksheets, participants will take a step-by-step approach to systematically shift their strategic logic from competing to creating and apply the processes and tools of blue ocean shift to the travel industry. The case includes a real-life example of a successful blue ocean shift in the travel industry and is accompanied by a firsthand video interview with Dong Gun Lee, CEO of My Real Trip, a Korean company that challenged the travel industry’s long existing assumptions to open new market space.

Pedagogical Objectives:
The case consists of three parts: 1) Part A is a short case that looks into the competitive landscape of the travel industry in Korea and ends with the challenging question to participants to create their own blue ocean strategy. 2) A Blue Ocean Shift Exercise is conducted in the classroom using accompanying worksheets. Participants follow the process of blue ocean shift using the Buyer Utility Map, Noncustomer Analysis, the Six-Path Framework, the E-R-R-C Grid, and the To-Be Strategy Canvas to create their own blue ocean strategy. 3) Part B provides an example of creating a new market space in the travel industry in 2012 in Korea - My Real Trip. This theory-based video case narrates how My Real Trip reconstructed the market boundaries and created new demand in the crowded and divided travel industry. The strategic move can be discussed in the classroom using the lecture slides that accompany this case.

Keywords:
Blue Ocean Strategy, Blue Ocean Shift, Sharing Economy, Travel Industry, Korea, Entrepreneurship, Start-Up, Strategy Formulation, Workshop, Market Creation, Exercise, Innovation

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