"Igniting change is never easy. But by using the Blue Ocean approach and adapting your company's behaviors to gain a new perspective, you can overcome virtually any business challenge."
Such is the highly effective business advice put forth by Andrea J. Simon, Ph.D., President and Founder of Simon Associates Management Consultants, in her article, "Does Your Business Need A Boost?," published December 9, 2014 in Forbes.
Blue Ocean thinking helps companies open new market space and makes competition irrelevant
What's the key to Blue Ocean Strategy's success? According to Dr. Simon's article, by focusing companies' attention on new buyers and different market segments, rather than the same-old players in their industries, the Blue Ocean approach enables corporate leadership to see new opportunities that might be right in front of them. Also, it shows businesses how to adopt a culture where people are trained to think in a “Blue Ocean” way.
Offering a case study of Elkay Manufacturing, Dr. Simon describes how in just four years, this 90-year-old Chicago firm in the sink, water fountain and kitchen cabinet industries saw sales of its water filler sales skyrocket from zero to 25 percent of its current portfolio — once it applied Blue Ocean Strategy.