I was recently asked if I could help a company’s managers learn about Blue Ocean Strategy®. And then I was asked not to help them learn about Blue Ocean Strategy!!
There is certainly no shortage of articles recently about the demise of the once-formidable electronics giant RadioShack. WSJ’s February 4, 2015 headline said it all: “Strategic Confusion Put RadioShack at Mercy of Lenders.” Check out this image and the graph below it:
"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.
To read Andrea Simon's article in Forbes, click here.
I was speaking with someone recently who works for a ski resort that had wanted to find a Blue Ocean Strategy several years ago. Skiing and snowboarding were not growing, and mountains—whether they were destinations or weekend retreats—needed to find more nonusers to enjoy the experience.
Here at Simon Associates Management Associates (SAMC), we have had a growing number of inquiries lately about how to do a Blue Ocean Strategy® and why, particularly in these changing times, you should find your own blue ocean – sooner than later.
I have always been excited about reading Malcolm Gladwell’s books because they provide bits of information that generally confirm how I think, or how others think. It is a great opportunity to reflect on others’ way of doing things.
Simon Associates Management Consultants does a lot of work with clients that are in an early growth stage. A little while back, we attended the International Travel Goods Show for one of our clients, Cabeau. Cabeau is a relatively new company in the comfort travel arena, making products designed to make traveling more comfortable, including a variety of travel pillows.
Earlier this year, I compiled my “Top Ten Trends From The Trenches” based on speaking to CEOs weekly. Given what I’ve heard lately, significant shifts are occurring, reflected in several fresh trends for Q3 and beyond.