While most executives climb up the ladder mostly by demonstrating their operational and tactical efficiency, very few of them gain exposure to a structured strategic thinking. Though operational skills can yield certain level of results, their impact is very limited and easily replicable compared to a successfully implemented strategy. Due to limited strategic awareness, successes of executives are often judged by a single success or a solitary failure. This approach neither provides sustainable success for the business, nor for the executive.
Even those smart decision makers with strategic goals in mind often find themselves in war with competitors. Besides being intensely resource consuming, war is mostly a zero some activity and cannot collectively create wealth both for business and society. Traditional concept of warfare (i.e. beating the competitor) may not be the best approach to develop a high growth business strategy in this fiercely competitive market space.
In recent years several framework is suggested to ensure exceptional organizational growth in 21st centuries’ fiercely competitive market space. Among them, published in 2005 by Harvard Business School Press, Blue Ocean Strategy has probably received highest attention and acclamation.
Salient features of Blue Ocean are that it is a non competitive strategy, in a sense that it refuses to compete in traditional sense. Its motto is to make the competition irrelevant. It states Stop trying to beat the completion, to beat the completion. It advocates for simplicity and visualization and appeal to avoid number crunching as a primary technique of strategy formulation.
Blue Ocean advocates that a successful strategy doesn’t have to be a work of a genius. By applying certain concepts, tools, framework and processes, we can also develop a very successful business strategy. In this course we will learn those techniques and cases of success.
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