Discovering Blue Ocean Opportunities: A Process-Based Approach to Revealing New Growth Strategies
"It will always be important to swim successfully in the red ocean [but] to seize new profit and growth opportunities, companies also need to create blue oceans." —Fast Company Magazine
In Blue Ocean Strategy (2005), W. Chan Kim and Renée Mauborgne argue that the best place to find growth is not in existing markets (red oceans) but in new markets you create via innovation (blue oceans). In Business Process Management and the Balanced Scorecard (2006), Ralph Smith demonstrates how to leverage your unique process capability to compete in both red and blue oceans.
Discovering Blue Ocean Opportunities integrates the tools from these two important books to provide a practical roadmap to strengthen your existing business while pursuing opportunities for dramatic growth. Using cutting edge concepts that drive value innovation and demand creation, your company can deliver products and services to new customers in ways that would-be competitors cannot easily copy. Learn how to:
- Evaluate products and services using the red ocean–blue ocean–blue sky (ROBOBS) perspective.
- Create a Strategy Canvas to assess your strategic position..
- Leverage unique process capability to deliver Value Innovation.
- Target non-customers you can attract.
- Differentiate between blue ocean and blue sky opportunities.
- Convert new ideas into actionable strategic plans.
You can benefit from this seminar if you are one of the following:
- Senior executive responsible for making strategic decisions;
- Chief Financial Officer or Controller;
- Executive, manager, or director accountable for both operational performance and achieving strategic objectives;
- Marketing leader looking for new ways to position products and services;
- Product or process manager;
- Leader who manages your company`s performance appraisal/management system;
- Member of a strategic planning task force; or
- Visionary having difficulty communicating the Vision.
Seminar Outline
- ROBOBS: The World of Growth Possibilities
- What is a Red Ocean?
- What is a Blue Ocean?
- What is a Blue Sky?
- Where do you need to compete?
- The six principles of Blue Ocean Strategy
- Value Innovation and Red Oceans
- What is Value Innovation?
- Choices: reduce costs, increase value, or both
- Product vs. process innovation
- The Strategy Canvas
- Drafting and analyzing your Strategy Canvas
- Strategic Assessment – Finding Blue Oceans and Blue Skies
- The four phases of assessment: financial, customer, process, and learning and growth
- Why processes are important to strategy and innovation
- Utilizing process leveraging techniques to discover ROBOBS opportunities
- Process extension
- Market extension
- Enterprise creation
- Utilizing customer analysis techniques to discover ROBOBS opportunities
- Non-Customer Analysis – three tiers
- Soon to be non-customers
- People who prefer other product/service offerings
- Unexplored non-customers
- Non-customer kano models
- Selecting a strategy that best capitalizes on your distinctive process
- Using the Strategy Map and the BSC to Execute New Strategies
- Linking and aligning strategic objectives
- Managing strategy: four perspectives
- Communication of progress
Course Information:
- Oct 14 • Tue • 8:00am-3:00pm • 1 mtg • UHM Krauss 012 (Yukiyoshi Room) • $595 (General), $545 (with Process Mapping or Improving Service Processes) • $495 (if taken with Process Management Certificate Series, although not required)
with Ralph Smith
Click here to register for this course
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