Innovative Strategies for Creating Uncontested Market Spaces PPT
This PPT slide, part of the 22-slide Strategy Chessboard - Reinvent the Industry PowerPoint presentation, outlines the concept of creating "Blue Ocean" markets through innovative Customer Value Propositions. It begins with an overview of Blue Ocean Strategy, which emphasizes the importance of developing uncontested market spaces rather than competing in saturated markets. This approach, rooted in the work of Kim and Mauborgne, challenges traditional competitive strategies by suggesting that businesses focus on value innovation to make competition irrelevant.
The slide details 6 areas to explore when developing a Blue Ocean Strategy. These include changing the industry by looking across alternate industries, redefining the customer base, and focusing on complementary offerings. It also suggests rethinking the functional-emotional orientation of the industry and participating in shaping emerging trends. Each of these areas presents opportunities for businesses to innovate and differentiate themselves.
To effectively develop a new Customer Value Proposition that captures a Blue Ocean, the slide identifies 4 actions that can be taken. These actions involve eliminating factors that are below industry standards, removing elements that the industry takes for granted, creating new factors that have never been offered, and raising certain factors above existing standards. This structured approach allows organizations to systematically identify and implement strategies that can lead to the creation of new market spaces.
The slide also references thought leaders in this domain, including Kim, Mauborgne, Christensen, Schumpeter, and von Hippel, indicating a foundation of established theories and practices that support the Blue Ocean framework. This content is crucial for executives looking to innovate and expand into new markets effectively.
This slide is part of the Strategy Chessboard - Reinvent the Industry PowerPoint presentation.
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