COURSE OVERVIEW:
Welcome to the course Creating New Markets with Blue Ocean Strategy. This course is designed to equip you with the knowledge and tools needed to break free from the intense competition of crowded markets and create new, untapped market spaces. Through this course, you will learn how to develop and implement a Blue Ocean Strategy, enabling your organisation to innovate and achieve sustainable growth by creating value where none existed before.
We begin with an introduction to Blue Ocean Strategy, where you will explore the fundamental differences between Blue Ocean and Red Ocean strategies. You will gain an understanding of the historical background and development of Blue Ocean Strategy, as well as its growing importance in today’s fast-paced and competitive business environment.
Key concepts of Blue Ocean Strategy form the foundation of this innovative approach. You will learn about value innovation, which lies at the heart of Blue Ocean Strategy, and how to achieve differentiation while maintaining low costs. The course will also introduce you to the Four Actions Framework—Eliminate, Reduce, Raise, Create—that guides you in reshaping industry boundaries and creating new value propositions.
Strategic tools for Blue Ocean creation are essential for systematically uncovering new market opportunities. You will explore the Strategy Canvas, which helps map industry strategies and identify opportunities for value innovation. The Six Paths Framework will guide you in breaking out of existing industry boundaries, while the Buyer Utility Map will assist in identifying new value propositions that resonate with untapped customer segments.
The Four Actions Framework is a critical tool for reshaping market offerings. This section will delve deeper into how to eliminate factors that no longer provide value, reduce aspects below industry standards, raise others above industry norms, and create entirely new elements that add unique value to your offerings.
Reconstructing market boundaries is at the core of Blue Ocean Strategy. You will learn how to challenge and break industry assumptions, explore alternative industries and niches, and redefine market boundaries through innovative thinking and strategic insight.
Understanding noncustomers is vital for expanding your market reach. This section will introduce you to the three tiers of noncustomers, helping you unlock hidden demand and convert these potential customers into loyal clients. You will learn how to expand your market reach beyond current boundaries and tap into new sources of revenue.
Developing a Blue Ocean Strategy involves aligning your strategic initiatives with your organisation’s vision. You will learn how to conduct an as-is strategy assessment, create a to-be strategy canvas to visualise the future, and align your strategy with long-term organisational goals.
Implementing Blue Ocean Strategy requires overcoming organisational hurdles such as resource constraints, motivation issues, and internal politics. You will explore how to build execution into your strategy through the Fair Process, and how to develop a culture of innovation and risk-taking within your organisation.
Blue Ocean Leadership applies the principles of Blue Ocean Strategy to leadership and management. This section will focus on inspiring and empowering your teams to innovate, and aligning leadership practices with your strategic goals to ensure a cohesive approach to innovation and market creation.
Case studies of successful Blue Ocean strategies will provide you with real-world examples of how global companies have applied this framework to achieve remarkable success. You will explore industry-specific examples, from technology to healthcare, and learn valuable lessons from both the successes and failures of these strategies.
Challenges and risks of Blue Ocean Strategy are inherent in any innovative approach. This section will help you identify potential pitfalls, manage resistance to change within your organisation, and adapt your strategy based on market feedback to ensure long-term success.
Measuring success in Blue Ocean Strategy involves setting and monitoring key performance indicators (KPIs) for your initiatives. You will learn how to evaluate the long-term impact of your strategies, and how to continuously monitor and evolve your approach to maintain a competitive edge.
Sustaining a Blue Ocean Strategy is essential for ensuring that your competitive advantage endures. You will explore strategies for avoiding imitation by competitors, reinventing your business model to sustain your advantage, and continuously innovating to stay ahead in the market.
Integrating Blue Ocean Strategy with organisational strategy will ensure that your innovative initiatives are aligned with your core business objectives. You will learn how to incorporate Blue Ocean thinking into daily operations and create a roadmap for long-term strategic transformation.
Finally, we will explore future trends in Blue Ocean Strategy, focusing on emerging industries and opportunities for innovation. You will learn how technology and digital transformation can create new markets, and how to prepare your organisation to adapt Blue Ocean Strategy to a rapidly changing world.
By the end of this course, you will be well-equipped to create and implement a Blue Ocean Strategy, enabling your organisation to discover new markets, achieve sustainable growth, and maintain a competitive edge in an ever-evolving business landscape.
LEARNING OUTCOMES:
By the end of this course, you will be able to understand the following topics:
1. Introduction to Blue Ocean Strategy
- Understanding Blue Ocean vs. Red Ocean Strategies
- Historical Background and Development of Blue Ocean Strategy
- Importance of Blue Ocean Strategy in Today’s Business Environment
2. Key Concepts of Blue Ocean Strategy
- Value Innovation: The Core of Blue Ocean Strategy
- Differentiation and Low Cost: The Dual Strategy
- The Four Actions Framework
3. Strategic Tools for Blue Ocean Creation
- The Strategy Canvas: Mapping Industry Strategies
- The Six Paths Framework: Breaking Out of Industry Boundaries
- The Buyer Utility Map: Identifying New Value Propositions
4. The Four Actions Framework
- Eliminating Factors that No Longer Provide Value
- Reducing Factors Below Industry Standards
- Raising Factors Above Industry Standards
- Creating New Elements that Add Unique Value
5. Reconstructing Market Boundaries
- Identifying Industry Assumptions and Breaking Them
- Exploring Alternative Industries and Niches
- Redefining Market Boundaries with Innovative Thinking
6. Understanding Noncustomers
- The Three Tiers of Noncustomers: Who Are They?
- Unlocking Hidden Demand: Converting Noncustomers to Customers
- Expanding Market Reach Beyond Current Boundaries
7. Developing a Blue Ocean Strategy
- Aligning Blue Ocean Strategy with Organisational Vision
- Conducting an As-Is Strategy Assessment
- Creating a To-Be Strategy Canvas: Visualising the Future
8. Implementing Blue Ocean Strategy
- Overcoming Organisational Hurdles: Resources, Motivation, Politics
- Building Execution into Strategy: The Fair Process
- Developing a Culture of Innovation and Risk-Taking
9. Blue Ocean Leadership
- Applying Blue Ocean Principles to Leadership and Management
- Inspiring and Empowering Teams to Innovate
- Aligning Leadership with Strategic Goals
10. Case Studies: Successful Blue Ocean Strategies
- Analysis of Global Companies Using Blue Ocean Strategy
- Industry-Specific Examples: From Technology to Healthcare
- Lessons Learned from Blue Ocean Successes and Failures
11. Challenges and Risks of Blue Ocean Strategy
- Identifying Potential Pitfalls and Risks
- Managing Resistance to Change within the Organisation
- Adapting to Market Feedback and Making Strategic Adjustments
12. Measuring Success in Blue Ocean Strategy
- Key Performance Indicators (KPIs) for Blue Ocean Initiatives
- Evaluating the Long-Term Impact of Blue Ocean Strategies
- Continuous Monitoring and Evolution of the Strategy
13. Sustaining a Blue Ocean Strategy
- Avoiding Imitation by Competitors: Keeping the Blue Ocean Blue
- Reinventing the Business Model to Sustain Competitive Advantage
- Innovating Continuously to Stay Ahead in the Market
14. Integrating Blue Ocean Strategy with Organisational Strategy
- Aligning Blue Ocean Strategy with Core Business Objectives
- Incorporating Blue Ocean Thinking into Daily Operations
- Creating a Roadmap for Long-Term Strategic Transformation
15. Future Trends in Blue Ocean Strategy
- Emerging Industries and Opportunities for Blue Ocean Strategy
- The Role of Technology and Digital Transformation in Creating New Markets
- Preparing for the Future: Adapting Blue Ocean Strategy to a Changing World
COURSE DURATION:
The typical duration of this course is approximately 2-3 hours to complete. Your enrolment is Valid for 12 Months. Start anytime and study at your own pace.
COURSE REQUIREMENTS:
You must have access to a computer or any mobile device with Adobe Acrobat Reader (free PDF Viewer) installed, to complete this course.
COURSE DELIVERY:
Purchase and download course content.
ASSESSMENT:
A simple 10-question true or false quiz with Unlimited Submission Attempts.
CERTIFICATION:
Upon course completion, you will receive a customised digital “Certificate of Completion”.