Blue Ocean Strategy
Blue Ocean Strategy
Working in the business world for a very long time I have had the opportunity to see strategic planning first hand however, I never really understood the underlying benefits of what it could do for an organization. Now however after some years of experience, I can see the benefits of strategic planning and understand better how it all comes together within a blue ocean strategy organization, it truly has reinforced what I have learned in the business world.
There are a few concepts that I will definitely be using going forward in my career. One that I can see that would be of good use in my organization will be to “focus on the big picture, not the numbers” (Kim & Mauborgne, 2005). In my line of work in finance that’s what you do you focus on the numbers however, behind these numbers there is a big picture for the organization which is ultimately to make profit. I believe that if we reach beyond the scope and plan accordingly as an organization the goals can be met to improve profit. Although there is always some risk involved in planning, the result could be much larger.
I wouldn’t say that I have a disagreement with any concept in the blue ocean strategy. I believe that if it is used properly it can work for an organization, such as it did with Federal Express (FedEx) who “was built upon innovation” (FedEx, 2014). However, not all companies work in the same manner. Many organizations exclude the employees which in turn does not help the company become successful as a blue ocean organization. Communication plays a big role in how the blue ocean strategy works and if this is not done properly than the company is sure to fail to become a blue ocean organization. Employees need to be kept in on what’s happening and how they can help the organization become successful. “In the age of global competition, it is even more important than ever to think creatively when developing strategic plans” (Goetsch & Davis, 2010, p. 50).
References
FedEx. (2014). History.
https://about.van.fedex.com/history
Goetsch, D. L., & Davis, S. B. (2010). Strategic Management: Planning and Execution for Competitive Advantage. In Quality Management for Organization Excellence: Introduction to Total Quality (6th ed.).
https://www.pearsoncustom.com/us/apus_busn412
Kim, W., & Mauborgne, R. (2005). Blue Ocean Strategy: How to Create Uncontested
Market Space and Make the Competition Irrelevant. Boston, Mass: Harvard
Business School Press.
https://web.b.ebscohost.com.ezproxy1.apus.edu/ehost/ebookviewer/ebook/bmxlYmtfXzEyOTY2OF9fQU41?sid=eecd4022-d7e3-4566-9f73-1cc2a7ae1014@sessionmgr114&vid=1&format=EK&lpid=chap-3&rid=0