Wednesday, April 16, 2014

Creating a Blue Ocean Strategy: There's an App for that!


In a world diluted by Red Oceans, it can be difficult for start-ups and existing businesses to identify blue ocean opportunities.  But as competition gets fiercer with more companies fighting over a bigger share of the same pie, identifying and successfully implementing a blue ocean strategy is imperative to the success for many.  Upon exploration of this topic, I stumbled upon an iPad application, which assists in visualizing a blue ocean strategy.  Strategy Canvas was created by INSEAD and is free on iTunes. It was built with the support and authorization of the authors of Blue Ocean Strategy, W. Chan Kim and Renee Mauborgne.
 
The application promotes easily created graphs and visuals to help form and implement strategies. Additionally, it features an Eliminate-Reduce-Raise-Create (ERRC) Grid.  The concept is rooted around the idea of seeing the big picture of your strategy first to better prepare for implementation.  It highlights the key factors of competition and allows you to compare your strategy to others in the industry.  Their motto: "Focus on the Big Picture, Not the Numbers"



 
 
In addition to Strategy Canvas, INSEAD created a companion app called the Buyer Utility Map.
 
 
This app analyzes the buyer experience, which will help companies better understand existing markets and see hidden blue ocean possibilities.  Again, the app uses clear visuals to support its system and is free for download to iPads.  I do not own an iPad so I was unfortunately unable to explore either app for myself, but I found both intriguing.  The Buyer Utility Map appears to best be used with the support of Strategy Canvas.
 
 
 
 
 
Sources
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"Blue Ocean Strategy Visualizer." App Store. N.p., n.d. Web. 16 Apr. 2014. <https://itunes.apple.com/us/app/blue-ocean-strategy-visualizer/id645511279?mt=8>.
"Blue Ocean Strategy | Blue Ocean Strategy Visualizer App." Blue Ocean Strategy. N.p., n.d. Web. 16 Apr. 2014.  <http://www.blueoceanstrategy.com/visualizer/>.
"Blue Ocean Strategy Visualizer BEC/BUM." App Store. N.p., n.d. Web. 16 Apr. 2014. https://itunes.apple.com/us/app/blue-ocean-strategy-visualizer/id734747722?mt=8.
"BOS Apps." BOS Apps. N.p., n.d. Web. 16 Apr. 2014. <http://www.insead.edu/blueoceanstrategyinstitute/MBA/BOS_Apps.cfm>.
 
 

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