Beyond World’s End: The Road After CoViD-19

In Indian Mythology and religious texts, there is a notable story of “Sagarmanthan”, describing the churning of the oceans (Meaning: Sagar = Ocean, Manthan = Churning) that was done to obtain the Elixir of Immortality, by the Gods (Devas) and Demons (Asuras). This churning reportedly went on for 1,000 years, at the end of which the Elixir of Immortality was captured by the Gods and helped them vanquish the Demons.   

You may ask, why would I bring this up in an article that pertains to the Coronavirus or CoViD-19? In many ways, this pandemic has been the churning of oceans, changing the world as we knew it by end-2019, into something very different in a matter of weeks and months. Changes that may be for all intents and purposes, here to stay. These changes have upset the way things were, and many of us are grappling with the New Reality of the world around us.

For many businesses, this change has been catastrophic, threatening their very existence and survival. Others have managed to find a foothold and even seen unprecedented growth where they thought none existed. The impact has, to a large extent sunk in, and yet many of our businesses find themselves somewhere in between these two extremes, with a lack of clarity on how to proceed. Thankfully, it is now fairly certain that the world will survive largely intact, and we need to plan for the future.

However, anchor points have shifted, and like pioneering explorers, we find ourselves in uncharted waters with few navigational aids. Many of the tools that helped businesses define their growth path may no longer be valid, as changes in individual and collective behavior, social norms, physical, financial, and emotional needs affect the way our customers, vendors, partners, and even employees think and act. It is time to redraw the map. Going through this exercise for my own business, I believe I have found an answer that works.

Some of the most promising tools for businesses looking to establish a profitable space for themselves, as well as those looking to achieve beyond present circumstances, have been documented in recent years. Two of these are Blue Ocean Strategy and Design Thinking methodology.

In many ways, the two methods – Blue Ocean Strategy and Design Thinking focus our thoughts along the same path, that of customer or user-centric value, and deriving a suitable business model based on the understanding of what matters most to the customer. One example would be the growth of food delivery services in the last few years, which gave users the opportunity to try out a variety of cuisines and flavors within the comfort of their homes. This has eliminated the need for large real estate investments and overhead, creating a new category of restaurants dubbed “cloud kitchens”, where only the food matters (quality, price, hygiene takes center-stage over the location, ambiance, service staff, etc.).

·        Can we do the same with each business that is looking at the world through a new lens, post the pandemic?

·        Can we use these two frameworks to refine and recreate the value pyramid of your business, so that you continue to matter to customers, possibly completely new ones who didn’t exist before?

·        Using the steps and tools defined in both, is it possible to clarify and create new products, organizations, or businesses that can thrive in this new world?

I believe the answer is “YES!”

I’m embarking on a series of articles exploring how Design Thinking and Blue Ocean Strategy bring together the best possible way of helping you redefine your business. We’ll take a look at the various tools and steps and how to apply them to your product or service, and realign businesses to the new True North. Using each of the tools in these two approaches, a new direction to your business can emerge.  

Do share your viewpoints in the comments below.