1. Learning objectives:
- to understand and start to apply “blue ocean” strategy tools as a basis for re-setting the “rules of the game” and thus designing more effective strategies.
- This class will involve use of the non-customer, ERRC grid and Buyer Utility Map (BEC-BUM). This will then link into a subsequent class on strategy mapping where we will harness this initial work.
2. Preparation: Consider the following articles and questions and be prepared for in-class discussion AND activities using these concepts.
- Blue Ocean Strategy, Kim & Mauborgne, HBR, Oct 2004. (link takes you to HBR data base in Lam library, not to pdf.)
- OR, from http://lam.library.ubc.ca/ search in the top left search bar for “Blue Ocean Strategy” and scroll down the results to the Harvard Business Review, Oct 2004 reference. It then takes you to this
And you can click on the pdf.
- OR, from http://lam.library.ubc.ca/ search in the top left search bar for “Blue Ocean Strategy” and scroll down the results to the Harvard Business Review, Oct 2004 reference. It then takes you to this
- These resources are free to the web from the INSEAD Blue Ocean Strategy Institute. (Requires that you register your e-mail.)
- Strategy canvas – before and after business model innovation. http://www.blueoceanstrategy.com/concepts/bos-tools/strategy-canvas/
- Non-customers (to the category) and redefining market boundaries.
- Can you think of an example of a company or brand that has innovated to appeal to customers who were previously not buying in the category?
- ERRC grid.
- Can you provide an example of a company or brand that has simultaneously reduced one part of its offering while raising another, to add value while reducing costs?
- Buyer Utility Map
- Can you take one element from each axis and combine them for insight into an innovation opportunity in a specified product category? How might this be a strategic move?
- In class we will move quickly into activities using these tools so you should come with a basic literacy.
- Ahead of class, tweet to the class backchannel and answer one of the questions posed above.
3. Other Actions: N/A
4. Additional References (optional):
- There are many resources and examples of BOS in action. For now, you can stick to the required reads. In c10 the “strategy mapping” topic builds on these BOS fundamentals.