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Published by:
INSEAD (2018)
Version:
02.2020
Revision date:
23-Nov-2018
Length:
11 pages
Data source:
Field research
Notes:
Check out the short video trailer for a quick case synopsis.
Exercise for Market Creation in a Highly Competitive Industry

Abstract

This highly engaging strategy formulation exercise allows participant to unlock their creativity through the systematic five-step process of blue ocean shift. We reverse the learning process of case method by combining it with a group exercise. Participants will formulate their own market-creating strategy first by actively applying the concept, framework, and process of blue ocean shift to one of the most competitive industries - the travel industry. Then, they will be introduced to a real-life case that challenged the travel industry's long existing assumptions and successfully opened new market space. In analyzing the case, a three-part video series walks participants through the same blue ocean shift process applied in their group exercise, which will reinforce their learnings from the exercise and enhance the understanding of the case.This case is excellent for running a half-day or one-day workshop on creativity, innovation, and entrepreneurship.The case comes with a teaching note, lecture slides, worksheets, a one-page summary and a three-part movie based on first-hand research and face-to-face interview with the CEO of a Korean company who created a blue ocean in the travel industry.

Topics

Entrepreneurship; Innovation; Strategy formulation; Start-ups; Blue Ocean Strategy; Strategy; Economic conditions; Creativity; Design thinking; Blue Ocean Shift; Travel industry; Korea; Workshop; Market creation; Competition
Location:
Other setting(s):
2012

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