Published on : Friday, June 12, 2020
WTM Global Hub’s next industry webinar is set to take place on Tuesday, June 16 at 2PM (BTS). The webinar has been organised with the aim to showcase the capability of tourism industry to turn a new corner in strategic insight from being placed in a corner by the global lockdown. Experts who have contributed in the ‘blue ocean’ strategy to create innovative offerings for the travel and tourism industry will be a part of the webinar.
The panel discussion has been titled as ‘Flipping the Narrative: Composing Tomorrow’s Destination Strategy’ and will be standing as an ideal virtual event for anyone looking for ideas and inspiration to make a difference in the crowded travel and tourism market. Delegates will be listening to various proven and practical frameworks and methodologies of the blue ocean strategy that be applied to create outstanding offerings for the next generation of travel after the COVID-19 crisis comes to an end.
The Blue Ocean Strategy is a marketing theory as well as title of a 2004 book by Professors W. Chan Kim and Renée Mauborgne, faculty of strategy at INSEAD, one of the world’s top business schools in the world. The ‘Blue Oceans’ have been used to mark various unexplored market spaces that are still considered to be untainted by competition. These are places where demand is created rather than fought over and there is enough opportunity for growth that is both profitable and rapid. Individuals and companies that follow the blue ocean strategy are able to spot and seize new growth opportunities.
Meanwhile, there are also various existing ‘red oceans’ that are the market spaces where companies compete for a greater share of shrinking demand and where competition continues to be fiercer. Jason Hunter, Senior Global Practitioner, Blue Ocean Global Network and Alban Eral, the man behind implementation of the blue ocean strategy for several leading organisations will be presiding over the webinar.
Hunter is recognised for leading successful strategy and innovation initiatives to some of the world’s most recognisable organisations and Eral has created the BlueCity programme for new public services to build the ‘City of Tomorrow.’ The blue ocean strategy for national development has been combined open innovation between public and private organisations as a part of the project. They will be joined by Ian Rolle, President, Grand Bahama Port Authority Group of Companies.
Claude Blanc, Director, World Travel Market said in a statement that WTM is thrilled to bring the concept of ‘blue ocean’ to its next webinar especially with a panel of experts who can provide real examples of large and small companies that have adapted to grow new markets. He mentioned that at the moment, every individual is looking for new ways to undertake actions that can establish them in the tourism market once global travel resumes again.
He shared that everyone involved in the tourism industry irrespective of the sector will look forward to be a part of the webinar as it has been designed to offer valuable insight into how blue ocean marketing can create and capture new demand, widen potential and open up vast, undiscovered possibilities.