By Sarah Jaber
We have all seen the struggle of a typical company in competition. The unhealthy stress of clawing the way to better service, desperate negotiation for cheaper goods, unsteady forecasts, keeping all five senses on the competing company, while employees go without telling if the choices they make will keep their jobs safe. Household names such as Yahoo, Kodak, and Sears (previously open for 126 years), have gone out of business for the very reason of staying within the boundaries of a market space they’ve set themselves in.
These strategies have kept businesses in the bloody red ocean, where they stay fighting their way for sales in a known market space. If only there was a way to shift away from these markets into a place where opportunities thrive!
Well, there is a way. No matter what a company sells, big or small, thriving or standstill, Blue Oceans exist if some push was given to turn away from that corner of red, to float the vast unknown waters where the market is all yours. No competition, no hassle.
This conversion in long term strategy is called the Blue Ocean Shift. It’s simple: a set of tools and ideas focused around growth which can be applied in every industry, for teams and even for individuals who are looking for a creative way to break the barrier.
This strategy was created by the Authors W. Chan Kim and Renée Mauborgne. Kim, being a Professor of Strategy and Management, a Fellow of the World Economic Forum, and awarded a Nobel’s Colloquia Prize for Leadership on Business and Economic Thinking in 2008, has knowledge and experience that made him one of the most influential management thinkers alive. Together with Renée, a professor of strategy and management at INSEAD, they took a 30-year research journey to then publish inspiring books such as Blue Ocean Shift that had been implemented into businesses worldwide.
The goal of Blue Ocean Shift is to expand customer demand by getting a clearer vision on where a company currently plays in the industry, creating a need for change, thus creating new markets, ideas, growth, and profit. Easy? It might as well be.
There is only a right way to have a successful Blue Ocean Shift. With the help of experienced professional consultants from Case in Point, the right guidance will be provided in the direction of a process that considers humanness (to inspire and set a feeling of ownership in people for effective execution), the right perspective, and the right tools and technology to create a new market.
The use of new, progressing, and combined technologies to drive business outcomes is changing the nature of markets as well. CompTIA research stated that 36% of companies strongly agree that technology function plays a critical role in strategic planning. Case in Point connects the right technology, people, professional expertise, and business solutions to aid in creating and reaching strategic goals.
Abdulhameed Hashlamon, the CEO at Sama Food Industries, is a set example among many others for the positive results of the Blue Ocean sessions. “I see new unique opportunities and potential in the market. We are aggressively tackling the market after this session by Case in Point.”
Applying the systematic mindset embedded in the Exponential Blue Ocean can be no problem when giving everyone in the organization the confidence, competence, and creative opening for a new value-cost frontier.