Storytelling

Challenge & Selection

I think storytelling is a great tool for me to use.  I work for an IT company of a conglomerate based

in Korea. Our business model is to provide IT services to our affiliated companies with the group

and outside companies in Korea.  As demand for IT services from our current is at its limit, sales

revenue and margins continue to decline last years. So, in parallel with getting additional customers

from outside, based on existing IT service models, we need to find new business models, and what

I'm doing now is to use IT and digital technologies to implement them.

Since it is very difficult to develop a new business model in a wide range of areas, it is important

to capture theme for developing a business model.  The area I'm looking at right now is a social

value-based business model that can solve social problems and be business at the same time.

Application

First of all, a social value-based business model must be able to create not only social but also

economic value together, and if it is biased, its meaning can be tarnished. In other words, if you

put too much emphasis on social values, you will have a model that is close to social contribution

activities, so it is hard to find a structure that can make money. Also, if you only pursue economic

value, you may not be able to differentiate yourself from the business models that are available

today.  So, with that in mind, we need to develop a model.

There are various ways to find a social value-based business model, and I have applied so called

the PIDI (Problem Identification, Idea Generation, Design, and Implement) methodology.

Insight & Approach

Let me explain one of the models I reviewed. With the increase of car sharing services such as Uber,

various car sharing companies have also emerged in Korea. In the case of S Car in South Korea, the

number of users has increased rapidly in recent years, leading to an increase in the traffic accident

rate and further and further side effects leading to death, and we considered a new business model

in the process of reviewing ways to address it.

The reason for the high accident rate of S car was found to be mainly due to the younger age of

the customer renting the vehicle, the higher number of people with short driving experience, and

the higher number of people driving late at night. I've come to think that if we give incentives to

drivers who drive safely, people will not be speeding, they'll be able to keep the lights on, they'll

not be changing lanes in a hurry, etc.  To maintain good driving habits, we came up with a so-

called 'Good Driver Platform' that combines our IT technology. The main function of this platform

is to measure driver's driving habits and to provide various incentives suitable for customers' needs,

such as direct discounting of fares and providing coupons for use etc.

In the case of S car, the costs of using this platform are paid, but the cost of insurance, repair, etc.

can be reduced due to the reduction of traffic accidents, thus creating greater economic value than

the cost put in. It will also create social values such as reduced logistics costs due to traffic accidents.

Now, the idea is under internal review by S car, and we believe it will be implemented soon.


Storytelling Challenge & Selection I think storytelling is a great tool for me to use . I work for an IT company of a conglomerate based in Korea . Our business model is to provide IT services to our affiliated companies with the group and outside companies in Korea . As demand for IT services from our current is at its limit , sales revenue and margins continue to decline last years . So , in parallel with getting additional customers from outside , based on existing IT service models , we need to find new business models , and what I 'm doing now is to use IT and digital technologies to implement them . Since it is very difficult to develop a new business model in a wide range of areas , it is important to capture theme for developing a business model . The area I 'm looking at right now is a social value - based business model that can solve social problems and be business at the same time . Application First of all , a social value - based business model must be able to create not only social but also economic value together , and if it is biased , its meaning can be tarnished . In other words , if you put too much emphasis on social values , you will have a model that is close to social contribution activities , so it is hard to find a structure that can make money . Also , if you only pursue economic value , you may not be able to differentiate yourself from the business models that are available today . So , with that in mind , we need to develop a model . There are various ways to find a social value - based business model , and I have applied so called the PIDI ( Problem Identification , Idea Generation , Design , and Implement ) methodology . Insight & Approach Let me explain one of the models I reviewed . With the increase of car sharing services such as Uber , various car sharing companies have also emerged in Korea . In the case of S Car in South Korea , the number of users has increased rapidly in recent years , leading to an increase in the traffic accident rate and further and further side effects leading to death , and we considered a new business model in the process of reviewing ways to address it . The reason for the high accident rate of S car was found to be mainly due to the younger age of the customer renting the vehicle , the higher number of people with short driving experience , and the higher number of people driving late at night . I 've come to think that if we give incentives to drivers who drive safely , people will not be speeding , they 'll be able to keep the lights on , they 'll not be changing lanes in a hurry , etc . To maintain good driving habits , we came up with a so- called ' Good Driver Platform ' that combines our IT technology . The main function of this platform is to measure driver 's driving habits and to provide various incentives suitable for customers ' needs , such as direct discounting of fares and providing coupons for use etc . In the case of S car , the costs of using this platform are paid , but the cost of insurance , repair , etc . can be reduced due to the reduction of traffic accidents , thus creating greater economic value than the cost put in . It will also create social values such as reduced logistics costs due to traffic accidents . Now , the idea is under internal review by S car , and we believe it will be implemented soon .