Wednesday, November 11, 2009

Sibu In The Blue Ocean - Part 10

A key common characteristic of Blue Ocean Creators is that they are able and willing to think and act differently. In short, they are innovative in ideas.

As Albert Einstein put it, "Any intelligent fool can make things bigger and more complex....It takes a touch of genius....and a lot of courage to move in the opposite direction."

So, what is exactly Blue Ocean Strategy? It is simply a fresh approach to innovation and profit growth by using a comprehensive set of tools and frameworks in process methodology to create a culture of passion for Blue Ocean (Value) Innovation.

Tan Kee Hian said there are two simultaneous outcomes from Blue Ocean /Value Innovation: Value to customers and value to stakeholders.

Red Ocean and Blue Ocean are two contrasting approaches with the following implications for businesses and leaders:

1. In Red Ocean, it is going head-to-head in known market space. The end result is lose-lose competition with incremental growth.
2. In Blue Ocean,it is creating uncontested market space. The end result is breakthrough value innovation.

Research by Professor Kim and Mauborgne shows that Blue Oceans are substantially more profitable.

Photo: Liong


Anonymous said...

It is only fair when we started to look a bit into the details of the BOS.

In fact, there were some Criticisms of BOS. To Sibu, whatever is available, would sound good.

I still have the reservation that it is a business strategy and politics is different. There is the School of Government at Harvard that is different from the Business School.

Tony Hii said...

It is good to keep our minds open to ideas.

Our government plays a regulatory role in the economy. It would be helpful for them to possess Blue Ocean strategies.