My life at work - the trials & tribulations!!

The Strategy Canvas

1:28 PM
This captures the current state of play in the known market-space.
I can think of a few parameters that would prove useful.
• Competitor moves,
• Industry factors, and
• Product offerings across the industry.

Plot these on the X axis against a set of numbers on the Y axis. These numbers could range from 1 to wherever you think necessary.
The resultant plot would denote a value curve.

What’s been observed on analyzing most industries is that the players have a “common” perception of what sells and what is valued by the customer. They are right in their perception and wrong too.

It’s important to move forward and challenge the existing model.
15 years ago – there were no cellular phones and getting a land line installed was problematic at the very least. Then companies launched cellular services way back in 1995. They challenged the existing line of thinking. The field remained communication – they just changed how it was done.

• Check out the factors that are taken for granted – which can be eliminated!!
• Which factors are overrated and need to be pegged down a bit?
• What’re the factors kept out of focus and need to have their bar raised?
• What are the factors to be created?

This way:
1. eliminate redundancies – cost control
2. lower the over-rated – cost control
3. improve the key areas – value add
4. develop differentiators – value add
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Getting started - entering the Blue Ocean

1:24 PM

Yes – I want to move into a blue ocean. I guess that’s where the story always must begin.

Now comes the part for which there are no proven strategies. All our business strategies are designed to fight on existing terrain against enemies from the same league. There’s limited terrain and you got to beat the bad guys here and now. So you play and make the value-cost tradeoff. It gets you a lil bigger piece of the pie – for awhile at least!!!
That’s the RED OCEAN we live in…

6 Principles
Formulation Principles

  • Reconstruct market boundaries – reduce the risk of searching for something new.
  • Focus on the big picture – not the numbers – reduce the risk on planning
  • Reach beyond existing demand – reduce the risk on scalability
  • Get the strategic sequence right – get your business model right

Execution Principles

  • Overcome key organizational hurdles – integrate the organization
  • Build execution into strategy – manage proactively

The key issue here is that while I want to do something new and bright and shiny – risks need to be minimized and mitigated rather than turned into contingencies

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Value Innovation

10:57 PM
This is a term that I have recently had to focus on. It’s not something new.
Yet we forget it quite easily in the humdrum existence that we lead.

It is about creating a leap in value for the buyers. This serves two purposes.
1. It makes the competition irrelevant – as the focus changes from competition to alternatives
2. It opens up new and uncontested market space.

The organization has to focus on both – value and innovation.
It is not about being the “first entrants” n the market or using “cutting edge” technology. History is witness to Technology pioneers opening the doors for others to trample over them.

It is generally believed that high customer value is synonymous with high cost. That’s not true.
It is essential to pursue “differentiation” and “low cost” simultaneously.

Hence it is important to integrate the functional and operational activities in an organization. The entire system has to be oriented to the LEAP!!!

That’s why Value innovation is the cornerstone to a Blue Ocean strategy (BOS).
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The deep blue!!

8:07 AM
Technically speaking, blue ocean strategy challenges companies to break out of the red ocean of bloody competition by creating uncontested market space that makes the competition irrelevant.

Instead of dividing up existing - and often shrinking - demand and benchmarking competitors, blue ocean strategy is about growing demand and breaking away from the competition.
The current corporate strategies have their roots mired in the military.
To focus on the red ocean is therefore to accept the key constraining factors of war- limited terrain and the need to beat an enemy to succeed. It also involves a denial of the distinctive strength of the business world: the capacity to create new market space that is uncontested.

Lots more coming in on this topic....
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traveling life's quaint paths and making my own destiny...