We had a great In-Synk Business Book Club Meeting last Friday. Reviewed Blue Ocean Strategy. 11 in attendance. My impressions of the dialogue below:
Going after a Blue Ocean Strategy is real risky if you don’t do the numbers on it. But at the same time the processes out lined in the book give structure to a creative process. I think one has to do the creative first, without letting the numbers get in the way of the creativity, then do the numbers to make sure it’s a viable strategy. (thanks Carl Barton and Karl Schledwitz)
Getting the strategic sequence right is so important:
1. Buyer utility
I was impressed that there was lots of advice, almost a lecture, that the strategy has to be tied to execution and vice versa. And the the biggest obstacles in going forward with a Blue Ocean Strategy are probably from within your organization. Find the “devils” and “angels” and work on both of them.
Cirque de Soleil is and excellent example of a Blue Ocean strategy. Expanded the circus into an totally different sandbox and eliminating threats from the traditional competition. Expanded the market and grabbed it. Initially Starbucks was good Blue Ocean strategy.
–“Never Outsource Your Eyes”
–“You must get your managers to witness ‘operational horror'”to overcome cognitive hurdles in pursuing the strategy.
–“A company is everyone from the top to the front lines.” all have to be involved in the strategy at all levels.
—Practical reality demands that companies succeed in both blue oceans and red oceans and master the strategies for both.
I especially liked the emphasis on non customer for developing Blue Ocean Strategy. Three types: soon to be, refusing, and unexplored.
Come to The In-Synk Business Book Club next month on October 1st. The Checklist Manifesto