Blue Ocean Strategy I – Making the Competition Irrelevant
Many organisations’ strategic focus is on beating the competition in their existing markets. But the most profitable companies move beyond their traditional market boundaries to escape the fight for a share of a fixed profit pool – and discover new untapped demand. Their innovations simultaneously create a leap in value for buyers and a reduction in costs – thus creating the potential for high profit growth.
Developed by Professors Kim and Mauborgne, Blue Ocean Strategy (BOS) describes the logic underpinning such strategic moves. It is emerging as the most significant development in strategic thinking since the era of competitive strategy began in the 1980s. Andy shows how to apply this logic to deliver high profit growth in businesses of any size or sector, even in poor markets or declining industries.
Participants will use a combination of presentations, discussions and a case study to help them:
- Understand the key concepts of Blue Ocean Strategy.
- Think beyond their industries’ conventional assumptions and adopt a growth-oriented, innovation-driven mindset that will help to side-step their competitors.
- Understand the strategic logic that fuels profit growth.
- Understand how to grow the market by attracting non-customers.
- Gain experience of the main tools of BOS: strategy canvas, 4-Action framework and 6-Paths framework.
- Develop a profit growth strategy for a start-up in a case study based on a real business scenario.
The workshop is a mix of case studies, group working, theory segments and plenary discussions with the opportunity to discuss any aspect of strategy or Blue Ocean Strategy with a qualified expert.
Participants learn the elements of strategy that most affect future profitability: attracting non-customers, lowering costs, increasing utility and breaking conventional industry wisdom. Using a case study, participants discover how they can cross their industry boundaries to escape the competition. Participants will receive a hand-out summarising the main concepts and tools.
This workshop is suitable for a half day retreat.