Every company today is in search of sustained profitable growth and competitive advantage; companies are competing hard amongst each other for customers, market share, cost leadership, value leadership etc. Despite best efforts no one’s winning because it’s still a zero – sum game for the industry because the size of the market is fixed and everybody is doing same or similar things resulting in negligible differentiation or innovation.
The Blue Ocean Strategy is the art and science of making the competition irrelevant by creating uncontested market spaces. It is the mantra for winning in the marketplace without fighting the war. It argues that the best business strategy is to stop competing against competitors and create a blue ocean opportunity – a marketplace without any competition. Blue Ocean Strategy focuses on value innovations and lifting buyer values that could result in making conventional competition irrelevant and extend the industry boundaries and thereby creating un contested market space by tapping the untapped market space or by creating demand.
In this first of the two part webinar series - you would be introduced to the following concepts and frameworks through interactive and latest case studies:
Red Oceans and Blue Oceans
Creating Strategy Canvas
The Four Actions Framework
The Three Tiers Of Non Customers
This presentation series is derived from the most acknowledged best seller “The Blue Oceans Strategy” published in 2005, by Prof. Chan Kim and Renee Mauborgne of INSEAD.
Blue Ocean Strategy offers systematic and reproducible methodologies and processes to innovate and create new market spaces. This can be achieved by both new and existing firms. Blue Ocean Strategy frameworks and tools include: strategy canvas, value curve, four actions framework, six paths, buyer experience cycle, buyer utility map, and blue ocean idea index. These frameworks and tools are designed to be visual in order to effectively build the collective wisdom of the company and also to effectively execute a strategy through easy communication.