I’m a huge fan of Blue Ocean Strategy (BOS). It is a concept which has underpinned Qcom’s evolving business model for many years, helping us to remain competitive and driving growth within fast-changing industry sectors.
BOS has taken us on our long journey from electronic equipment manufacturer to technical service and support outsourcer. For those looking at a shrinking order book or margins, now may be the time to consider BOS as a philosophy to reinvigorate your business.
BOS is not about out-competing other businesses in an existing market, it is about creating new markets or blue oceans, thus making competition irrelevant.
Consider Cirque du Soleil, who successfully married the Big Top experience of the circus, with big theatrical production values. The upshot was the first circus that could charge West End prices, which has become a $5bn international phenomenon.
Competing for a share of a shrinking market is unlikely to be a sustainable business model but BOS shows there is another way. To find out more, log onto www.blueoceanstrategy.com