Blue Ocean Strategy

Course Overview

Organizations face a lot of competition, always seek profitable growth, and sustain competitive advantage. They compete for market share in the existing diversified market and struggle for differentiation. In today’s competitive and overcrowded industries, business rivals are fighting over the profit pool which is characterized by increased level of commoditization. However, there are many organizations which are still trying to compete within the ‘Red Oceans’ but the question arises: is the adopted strategy suitable for profitable growth in the future?

This course gives insight into the formulation of strategy and its execution. The participants can engage themselves in the frameworks, tools and strategic concepts of the Blue Ocean. This course assists them in creating ‘Blue Oceans’ for the unchallenged market space to make the competition irrelevant. The participants will gain knowledge of supplementing the competitors and go beyond the traditional approaches. There has always been an emphasis on learning and applying the strategies of Blue Ocean, it’s too land framework to the business situation as it helps the business to break away from the competition in order to achieve profitable growth.

Course Objectives

  • Gain knowledge of tools and concepts of Blue Ocean Strategy
  • Learn how employees can be engaged in the process of Blue Ocean Strategy
  • Develop Blue Ocean Strategy for the organization and breakaway the completion by ‘Value Innovation’

Course Contents

  • Review and Analysis of Competitive Strategy

The participants will evaluate the concepts and tools of the competitive strategy that will comprise of the Five Forces, i.e., positioning analysis, differentiation, industry value chain and generic strategies of cost leadership.

  • Foundations of Blue Ocean Strategy
    • Key features that are separating ‘Red Ocean’ and ‘Blue Ocean’
    • Achieve ‘Value Innovation’ through immediate pursuit of differentiation and low cost
    • Different paths with which you can re-shape the market boundaries in order to break away from the competition and unlock new demands
    • Explanation of the Eliminate-Reduce-Raise-Create Framework, and Six Paths Framework and Strategy Canvas
  • An Assessment: How Blue is your Ocean?
    • Apply the Blue Ocean Strategy after analyzing the situation of the business –draw ‘As-Is’ strategic canvas of the business.
    • Understand and identify the assumptions of industry and its cost implications to contrast the ‘Blue Ocean’ outcome with the perspective of ‘Red Ocean.’
  • Create New Market Space
    • Explore ‘Value Innovation’ and systematically pursue to unlock new demand in the market.
    • Three Tiers of Non-customers: Think apart from existing customers and explore the new customers
    • Buyer Utility Map: Explore levers that can be pulled for creating compelling leap in value for the market that unlocks demand from non-customers
    • Six Paths Framework: Understand paths for reconstruction of the market boundaries and unlock the new business ideas
  • Look for Own ‘Blue Ocean’
    • Start searching the process for ‘Blue Ocean’ in the new market space for your organization. The main aim is to practice the tools and frameworks which can be used and also take an advantage of diverse experiences of other participants in order to create your own market space.
  • Implementation of the Blue Ocean Strategy
    • Explore key approaches for the implementation of Blue Ocean Strategy and the fast cost while winning employees’ support.
    • Tipping Point Leadership: Learn motivational, cognitive and political resources which remove obstacles and assist to execute the best strategies in the organization
    • Fair Process: Learn how to communicate and interact with the staff so that trust can be built to facilitate the execution of Blue Ocean Strategy for the organization

Course Methodology

The training is going to be highly interactive combination of lectures, group discussions, questionnaires, individual reflections, role plays, simulations and videos.

Target Audience

This course is for the senior executives, strategy heads, business owners or any executive from top to lower management that are directly involved in developing new products.

Duration

05 Days (08:30–14:30) with appropriate breaks for tea/refreshments and lunch.

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