Process Management Certificate Series
Noncredit Course
Discovering Blue Ocean Opportunities: A Process-Based Approach to Revealing New Growth Strategies
Event ID: P09760
Info: 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
"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
Ralph Smith, vice president, strategic services for Orion Development Group, holds a master`s degree in operations research from the Georgia Institute of Technology and a bachelor`s degree in mathematics and statistics from the University of Georgia. He has personally supervised the performance improvement efforts in more than fifty organizations worldwide.
Most recently, Smith facilitated the development of Strategy Maps and Dashboards for six functional groups within a major domestic insurance company. Prior to that, he led the strategic redesign and deployment effort for a Bermuda-based insurance company. This engagement included the creation of a new performance management system based on the Balanced Scorecard. He has provided similar Balanced Scorecard and strategic planning support for the Alcoa Packaging and two departments of the State of Michigan. Smith also assisted Toshiba America and Memorial Blood Center of Minnesota plan the deployment of their Balanced Scorecard systems.
Over the last decade, Smith has utilized this experience and expertise for a diverse group of clients, including Delta Air Lines, Texas Children`s Hospital, J.L. Clark, NYNEX, City of Tacoma, Evangelical Community Hospital, Crowley Foods, and the Cobb County Board of Health. He has designed training solutions, facilitated team activity, and served as a consultant to management. His efforts helped the quality improvement teams at Texas Children`s Hospital achieve dramatic gains in efficiency. At Alcoa, the Scorecard efforts Smith facilitated led to a dramatic business turnaround and return to market leader status for their packaging division.
As an instructor, Smith consistently receives ratings that average over 9.2 on a scale of 1 to 10. Seminars he teaches include “Process Mapping,” “Linking Strategy & Process,” “Facilitating High-Performance Teams,” “Using the Balanced Scorecard,” and “Statistical Process Control.” Participant reviews include:
"I learned a great deal and can see where we need to make changes in our scorecard. I wish I had taken this course a year ago." --Margo Schmidt, Consultant, Michigan Department of Transportation
"Entertaining, enlightening and involved class with valuable examples and tips!" --Eric J. Gall, Manager-Global Quality Programs, Ford Motor Company
Prior to becoming a consultant, Smith was an internal quality resource for Kawneer Company, a manufacturer of architectural aluminum products. He coordinated the improvement efforts in 23 facilities throughout North America and Europe. He is a member of the American Society of Quality.