Category: Business trends

Trends from other businesses influencing or applicable to the tourism industry

Business model innovationBusiness trendsCollaborative business modelsCollaborative cultureCulture change

Business ecosystems come of age

As it has been explained in many posts and Whitepapers, one of the key success factors of destinations in their evolution towards the Vision of Tourism 3.0 is to develop an innovation ecosystem integrated by different types of contributors. In that regard, Business Trend Series Deloitte’s report Business ecosystems come of age presents a series of articles describing how businesses are moving beyond traditional industry silos and conjoining networked ecosystems, creating new opportunities for innovation.

The report offers a glimpse of how some view the rise of ecosystems as an opportunity for creating powerful new competitive advantage as it becomes increasingly possible for firms to deploy and activate assets they neither own nor control and expand the possible beyond of their expertise and activities.

This brief summary outlines the various subjects and ideas dealt with:

Introduction: A brief history of the concept of ecosystems applied to business and how it all started in the technology sector but now is also taking root far beyond.

Blurring boundaries, uncharted frontiers: Long-standing boundaries and constraints that have traditionally determined the evolution of business are dissolving, allowing new ecosystem possibilities to flourish.

Wicked opportunities: Many kinds of complex, dynamic, and seemingly intractable social challenges are being reframed and attacked with renewed vigor through ecosystems formed by unprecedented networks of NGOs, social entrepreneurs, governments, and even businesses coalescing around them.

Regulating ecosystems: Regulators are challenged to create policies and solutions that protect the public’s interests and are also dynamic enough to keep pace with innovation born through ecosystems.

Supply chains and value webs: A set of powerful developments have worked together to help transform the business environment, changing how supply chains are configured, further heightening their strategic significance for many firms, and creating new leadership imperatives for the years ahead. Now “companies don’t compete—supply chains do.”

The new calculus of corporate portfolios: The rise of business ecosystems is compelling strategists to value assets according to an additional calculus, often generating different conclusions about what should be owned.

The power of platforms: Properly designed business platforms can help create and capture new economic value and scale the potential for learning across entire ecosystems.

Minimum viable transformation: Business model transformations are not unprecedented, they have always happened. It is not even new that business model transformations must consider the evolution of a company’s broader ecosystem. What is new today is that such transformations must be considered and accomplished routinely—not as storm-of-the-century events.

You may download the document at Business ecosystems come of age

This article is from www.co-society.com/official-business-ecosystems-come-age-deloitte-confirmed/

Business trendsCollaborative business modelsInnovationIntelligenceIntelligence methods

Destination Intelligence 3.0: Approaching tourism 3.0 from the regional level

Fostering the adoption of the practices and values proposed in the Vision of Tourism 3.0 entails transforming progressively the mindset of the tourism industry leaders towards a culture of collaboration and innovation.

Such efforts may well start in the top levels of the regional tourism boards, governments or industry associations. Either of these may take the lead in promoting the practices of Tourism 3.0 throughout the region down to the local levels, and a possible way to do so is by establishing a Destination Intelligence 3.0 system. This entails three main activities:

  • Capturing intelligence in the outbound markets
  • Monitoring the tourism activity in the destination
  • Leveraging the collective intelligence through an open innovation system

Destination intelligence 3.0 sets the stage for tourism destinations to develop their innovation strategy, providing a series of information flows and tools that facilitate and stimulate destination stakeholders to envision the need for innovation not only on the product development area but also on a more holistic approach encompassing all building blocks of the business model to continually improve the destination’s competitiveness. Further, it envisions how this practice is to become a key discipline in sustaining competitiveness and improving the destination’s marketing efficiency and effectiveness.

Apart from the consultancy reports, do you thing that intelligence reports elaborated by industry associations, governments and tourist boards are satisfactory to guide strategy, marketing and innovation planning in local destinations? If not, what is missing?