Wednesday, November 25, 2015

Blue Ocean Strategy – a way forward.




 

After reading both Blue Ocean Strategy and Why Good Companies Fail to Thrive in Fast-Moving Industries, there are several important takeaways that could possibly save a failing organization.  Organizations need to look from within and first determine if they could possibly improve their performance utilizing established products or technologies. 

If an organization finds that there really is no additional room for improvement in their current marketplace, disruptive technologies could be found that would give their customers a different type of value.  Disruptive technology products are general cheaper and smaller than the original product and may be more convenient for the customer to utilize. 

If this same organization would use Blue Ocean Strategy they would then need to invent something of value for their customers that no one else provides.  It could possible be a type of spin-off of their initial offering however the product needs to capture new demand.  By creating this new strategy, it takes the competition completely out of the picture.  As stated, blue oceans can be created within a company’s core business.  You don’t have to totally reinvent the wheel – just find a niche where there is no competition for the utilization of your current product or technology where you could reduce costs and give your customers more value.

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