Growth Case Studies
The innovation process and tools used in the blue ocean strategy workshop
The Blue Ocean Strategy workshop is centered both on learning and on concrete outcomes.
By assimilating the tools and principles, your teams can start innovate autonomously, transforming your organisation. The organizational benefits of such a project include:
- enhanced strategy and innovation skill-set for participating managers,
- a shift in organizational mindset towards challenging the status quo and continuously exploring growth and profitability opportunities.
In terms of concrete outcomes, the methodology is applicable to a wide variety of challenges, including non-business related.
However, when referring to accelerating profitable growth through value innovation, the main output includes:
- Prioritization of the growth opportunities spotted
- Final value proposition and business model prototype tested with customers
- High-level go-to-market and execution plan
- Collection of market and customer insights
- Gap analysis and high-level recommendations,
- Toolbox containing the “How To Use” Blue Ocean Strategy processes, tools and templates.
BLUE OCEAN STRATEGY
“…is a precise, actionable plan for changing the way companies do business with one resounding piece of advice: swim for open waters.” Publishers Weekly, USA
Through a combination of inspiring examples, theory and interactive exercises, the participants in this workshop will follow the Blue Ocean Strategy training agenda ( formulation process and tools) and will be able to apply them to launch a Blue Ocean Strategy initiative, such as product or service innovation, business model innovation, reinventing customer experience or almost any challenge their organisation faces.
Training Duration
1 or 2 days
Who Should Attend
- Board of Directors
- Managing Directors
- Director General
- CEOs, COOs and CFOs
- Advisors to the Board
- Strategic Planning & Business Innovation Team
- Senior Executive Officers involved in decision making
- Supervisors and managers of departments
Workshop Objectives
- Learn the blue ocean strategy principles and formulation process and how you can create a leap in value for both your buyers and your company, by applying it in various scenarios, e.g. business model innovation, product / service innovation or improving customer experience
- Understand and learn how to use the ‘BOS’ tools to drive fundamental innovation initiatives or to creatively pursue growth opportunities
- Strengthen your organization’s innovation capabilities by providing the participants with sound innovation processes, tools and by stimulating an innovation mindset
- Develop a market opportunity-centered business plan and ‘go-to-market’ proposals
Workshop Format
- Training in Blue Ocean Strategy concepts and principles, supported by case studies selected based on relevance to your industry and strategic challenge
- Interactive sessions of questions and answers
- Introduction to the Blue Ocean Strategy process and tools: the Strategy Canvas (for As-Is and To-Be Value Propositions), The Buyer Utility Cycle / Buyer Utility Map, Six Paths Framework and Eliminate – Reduce – Raise – Create Grid
- Group exercises working on the Blue Ocean Strategy tools applied to the context relevant to the participants organization
- Presentations in plenary with debrief on the process and content
Blue Ocean Strategy Workshop Agenda
The Blue Ocean Strategy Workshop offers a learning platform for participants to explore the tools and methodologies that help deliver value innovation with a systematic approach to making the competition irrelevant and creating a new market space.
- Introduction of the Blue Ocean Strategy concepts and principles (Value Innovation, Tipping Point Leadership and Fair Process)
- Blue Ocean Strategy process and tools: learning by doing
- The Blue Ocean Strategy formulation process
- Pioneers-Migrators-Settlers Map: scoping a Blue Ocean Strategy initiative
- As-Is Strategy Canvas: understanding the competitive position compared to the industry and the shortcomings of the current strategy
- Buyer Experience Cycle / Buyer Utility Map: analyzing customer and non-customer pains, gains and jobs-to-be-done, and generating first insights into reducing the company’s cost structure
- Three Tiers of Noncustomers: exploring group commonalities to create and target new demand
- Six Paths Framework: creatively exploring insights about creating customer value by thinking beyond conventional boundaries
- ERRC Grid (Eliminate – Reduce – Raise – Create): recombining the factors analyzed along the process to create value innovation
- To-Be Strategy Canvas: creating the new strategic offering (value proposition), ready to test prototype
The Blue Ocean Strategy workshop opened our eyes towards innovation and unexpected pockets of growth that we could leverage in the future.
Andrei Benghea Malaies CEO, Transelectrica
Frequently Asked Questions
How does Blue Ocean Strategy help with customer acquisition?
- By creating new value propositions that appeal to noncustomers and differentiating from competitors, companies can attract a broader audience.
How does Blue Ocean Strategy handle risk?
- The strategy includes processes to test and refine ideas to maximize opportunities while minimizing risks through systematic tools and frameworks.
What role does leadership play in Blue Ocean Strategy?
- Effective leadership is crucial in driving the strategic shift, fostering a culture of innovation, and ensuring team alignment and commitment.
How do you measure the success of Blue Ocean Strategy?
- Success can be measured through metrics like market share growth, revenue growth, customer satisfaction, and the ability to attract noncustomers.
Can small businesses implement Blue Ocean Strategy?
- Yes, Blue Ocean Strategy is scalable and can be adapted by small businesses to innovate and capture new market spaces without large budgets.
What are some common challenges in implementing Blue Ocean Strategy?
- Challenges include resistance to change, lack of resources, and difficulty in shifting organizational mindset from competition to innovation.