As futurists, we're all about change, innovation and helping organizations find their Blue Ocean Strategy so they can prepare now for what's coming, as well as for what's already here. Our guest blogger Michael Olenick taps into this futurism mindset with a great blog on value innovation, changing skill demands and job disruption. Lots of lessons here for our present fast-changing times. I invite you to read, learn and share.
At Simon Associates Management Consultants (SAMC), we help companies “see, feel and think” with fresh eyes so they can step out of their current mindset and discover new opportunities that are often all around them. A lot of this shift in thinking has to do with value innovation, something our guest blogger Michael Olenick writes about in the following blog. Perhaps his points will trigger some ideas of your own that can help you grow your business…not by doing more, cheaper, but by capitalizing on the proprietary value of your solution to consumers' problems. This is the key to finding your Blue Ocean Strategy. Enjoy.
At Simon Associates Management Consultants (SAMC), we're all about innovation, culture change and harnessing the power of Blue Ocean Strategy® to help you and your organization meet the many challenges ahead in these rapidly-changing times. We're also futurists, which is why we're facinated by Guest Blogger Michael Olenick's blog about the story behind the story of the Space Force logo. We learned things we never knew—we bet you will too! Enjoy.
At Simon Associates Management Consultants, we specialize in helping you and your company reach new heights. As corporate anthropologists, Blue Ocean Strategists and culture change experts, we help you re-think your business strategy so you can plan for the future in today's fast-shifting market. Blockchain is part of that future market (or really, the present one), which is why we urge our clients, and you our readers, to learn about it, look into it, and see if this might be the right time to incorporate blockchain into your business. As a first step, I invite you to read our blogs on the subject, as well as Michael's blog below.
(photo courtesy of LinkedIn)
The power of finding a blue ocean in a world of competitor-dominated red oceans is so clear, once you “see” it. Michael Olenick, the newest addition to our SAMC team, shares this timely blog about how two big-name companies, Yellowtail and Nintendo, successfully outperformed their competitors by making technology an integral part of their Blue Ocean thinking as a means to unlock value. Perhaps you could do the same with your business?
Tired of competing against all those "others" for the same customers in the same way? Ready to carve out uncluttered market space and make the competition irrelevant? That's the premise of Blue Ocean Strategy, the phenomenally successful methodology that helps you see, feel and think in new ways about your business. Michael Olenick, the newest addition to our SAMC team of experts, is someone who really "gets" Blue Ocean Strategy, and we'll regularly be sharing his wisdom and his viewpoints as a guest blogger. There's so much to learn here and also so much you can hopefully apply to your business and your life. Enjoy.
From Guest Blogger Michael Olenick
From Guest Blogger Elisa Spain
What does it mean to diversify your ego? Does that even make sense?
In the investment world, diversification is de rigueur. Anyone who works with an investment advisor has heard them talk about the benefits of holding a diversified portfolio. The reasons are pretty straightforward, asset classes typically move differently and when one class is underperforming, another is likely to outperform. The goal, therefore, of holding a diversified portfolio, is to achieve an overall positive return. And, even when a positive return isn’t feasible, e.g. in a significant downturn like we experienced in 2008, a diversified portfolio will still outperform a single asset class that experienced a significant loss, the S&P 500, in this example.
The concept of ego diversification is similar. If we are getting all of our identify, our ego satisfaction, from a single pursuit, what happens when something is not going well with that pursuit?
From Guest Blogger Michael Olenick
The idea that higher value and lower cost are incompatible is taken as an assumption. Better things cost more, right?
Sometimes that’s true, but not always. Blue Ocean Strategy theorizes the relationship can be broken, that higher value can be delivered at lower cost. This concept is called the cost/value trade-off.
Let’s use an obvious example:
All those covered-up buttons add cost; each must be engineered to do something, tested, manufactured, distributed, and explained to consumers (who have no interest in them). The extra cost adds unnecessary complexity. Let’s check out Apple’s TV remote instead:
Now a larger example, the turnaround of an entire company and creation of a new movie studio.
Marvel, the beloved comic book/movie/TV/game/toy company went from bankrupt and deeply in debt to a $4.2 billion buyout, in just over a decade, by breaking the cost/value trade-off. Marvel movies earn considerably more than movies from other studios yet cost considerably less to make.
From Guest Bloggers David Grebow and Stephen Gill
“When we look back across five centuries, the implications of the Renaissance appear to be obvious. It seems astonishing that no one saw where it was leading, anticipating what lay around the next bend in the road and over the horizon. Even the wisest were at a hopeless disadvantage, for their only guide in sorting it all out — the only guide anyone ever has — was the past, and precedents are worse than useless when facing something entirely new.”
—William Manchester, A World Lit Only By Fire
In the 1980’s, technology, automation, artificial intelligence and globalization combined for the first time to form a new powerful force. The impact of this force began the historic — and too often unnoticed — transition from a labor-intensive workforce that had existed for thousands of years to what is still a relatively new and emerging mind-intensive workforce. In our book, “Minds at Work,” we refer to this period as The Great Inflection Point when we moved from managing hands to managing minds.