Date/Time: Date(s) - 05/06/2023 - 07/06/2023( 8:00 am - 5:00 pm )
Location: Malaysia, Kuala Lumpur

Overview

Based on a study of 150 strategic moves spanning more than a hundred years and thirty industries, authors W. Chan Kim and Renee Mauborgne argue that lasting success comes from creating ‘blue oceans’: untapped new market spaces ripe from growth. And the business world has caught on – companies around the world are skipping the bloody red oceans of rivals and creating their very own blue oceans. Blue Ocean strategy is a must and an almost sure way to success because when companies have to compete in a red ocean market space, the competition is cut throat and fierce. This course designed to help leaders and managers to take the reins and set an innovative strategy for their organization that creates new demand for product or service and scales their business.

Objectives

By the end of the course, you will be able to:

• Know Who developed the Blue Ocean Strategy
• Understand What is a Business Universe
• Differentiate between Blue Ocean and Red Ocean
• Describe Ways to Create Blue Oceans
• Understand Key Terms Related to Blue Ocean Strategy
• Learn the Steps to Create a Blue Ocean Strategy
• List the Blue Ocean Strategy Tools
• Learn What is Meant by Value Innovation
• Explain What is Tipping Point Leadership
• Explain the concepts of ERRC Grid
• Explain the Use of the Buyer Utility Map
• Explain Steps for Strategy Reorientation & Execution and Describe How to Choose Right Strategic Approach
• List the Core Values to Drive Innovation

Who Should Attend?

• This course is good for managers, management learners and people who want to learn about Blue Ocean Strategy

Outlines

• Module 1: Blue Ocean Creativity
  In this module We’ll introduce you to blue ocean creativity, a systematic process of new market creation. Find out whether you are on track to a blue ocean or if you are sinking in bloody red ocean.
• Module 2: Shifting to a Blue Ocean Perspective
  In this module you will learn the fundamental differences between red ocean and blue ocean strategy. You will understand how shifting your focus from existing customers and existing industries towards noncustomers and new demand will start you on the path to creating new market space that will make the competition irrelevant.
• Module 3: Visualizing Your Strategic Reality
  In this module you will learn the concept behind, and the power of, the as-is strategy canvas, one of the key tools of blue ocean strategy. It will give you an overview of the current state of play in your target industry and show you in a simple picture the assumptions the industry acts on that you can later overturn and the degree of competitive convergence across existing players. You’ll have a baseline to assess new ideas against.
• Module 4: Discovering Hidden Pain Points
  In this module you’ll focus on the buyer utility map, a blue ocean tool to identify the specific pain points buyers face and identify concrete solutions that remove these blocks to utility. You’ll see how the buyer utility map can help you unlock hidden value to create new demand.
• Module 5: Looking Beyond Existing Demand
  In this module you’ll explore the concept behind the three tiers of noncustomers. By understanding the three tiers, you will gain insight into how to identify real opportunities and unlock new demand by identifying both who fall in each tier and the commonalities within and across the tiers.
• Module 6: Reconstructing Market Boundaries – Part I
  In this module you’ll learn about the six paths framework, a powerful tool that anyone can apply to reconstruct market boundaries and re-examine the familiar from a new perspective.You’ll discover how to distill key insights for creating blue oceans by applying the first two paths of the framework. You’ll achieve this by looking across industries (path one) and looking across strategic groups (path two).
• Module 7: Reconstructing Market Boundaries – Part II
  In this module you’ll learn more about the six paths framework and how to shift your perspective to look across boundaries. Here we’ll explore the remaining paths that you can apply to systematically reconstruct market boundaries.
• Module 8: Developing Alternative Blue Ocean Moves
  In this module you’ll learn how you can simultaneously create a leap in value for buyers while keeping costs low in building your blue ocean move. You’ll be introduced to the cornerstone of blue ocean strategy – what we call value innovation. To achieve this, we’ll introduce you to two powerful tools – the four actions framework and its companion, the eliminate-reduce-raise-create (ERRC) grid.
• Module 9: Communicating Your Blue Ocean Move
  In this module you’ll gain insight into successful strategy formulation and execution. You’ll learn how to use the to-be strategy canvas to effectively communicate and secure group buy-in during strategy formulation and execution.
• Module 10: Communicating Your Blue Ocean Move
  In this module you’ll get a summary of everything you’ve learned on the course.

Training Methodology

• Case Studies.
• Individual and group discussions and exercises.
• Intensive training by using templates, diagrams, and charts.
• Planning activities and presentations.
• Self-assessments.
• Action plan.

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