My team has assigned;
5 Hotel Chains
1. Create a Strategy Canvas:
a) Pick the criteria by which you believe customers evaluate the industry (from 5-8 criteria)
b) Strategy Canvas: graph how customers might generally score the industry for each criteria that you came up with in a) above
c) Within the same Strategy Canvas, plot/graph what you believe a Blue Ocean Strategy (line) might be, based on how current customers’ preferences actually diverge from the industry-assumed standard).
Notes:
- To “Graph” this, I am also including an Excel template you can use to help out. If you prefer to graph this yourself, either within Excel/Google Sheets or on a piece of paper, that’s fine too (but please be as neat as possible). The Bolded blue criteria can be changed, as can the data represented in the graph.
- Remember that your categories in a) may differ from the example given in class – they should be based on the industry. Also, if you wish to add/subtract industries, you are welcome to copy/insert rows to increase the categories, or delete rows to decrease the number of categories.
- After you have a graph that you are satisfied with, you should copy/paste as picture into your assignment (Word doc).
2. While being consistent with your Strategy Canvas, pick one thing in the industry you would change for each of the following:
a) Eliminate
b) Reduce
c) Raise
d) Create
In other words, you would choose a particular criterion you had listed for question 1 and explain why it needs to be “Eliminated” or “Raised,” et cetera. You will then explain in 1-3 sentences the rationale for each choice (in particular, why it represents “Value Innovation” to the customer). For the last “Create” topic, you will need to think up something that you believe is missing from the industry, but that is very important to the customers of the industry today.
3. Based on your analysis above, please do ONE of the following:
a) Identify a customer group that is currently not served by the industry in its present form, and explain (1) why they were not customers previously and (2) how your Blue Ocean Strategy will now make the industry more appealing to them.
OR
b) Explain why current customers of the industry will have (a) have MORE REASON to be buyers in the industry and (b) what factors you need to be careful of as you implement your Blue Ocean strategy that could end up alienating your current customers from continuing to buy from you. Note that I put “and” here rather than “or”: if your strategy is meant to increase market penetration within your current customer group, you shouldn’t be losing (the majority) them through this Blue Ocean Strategy move – even if a smaller subset of them might not like/agree with the changes you are implementing.
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