Leverage Your Blue Ocean: Disruptive technologies may receive Canadian government research grants through the IRAP ARP and IRAP Mid-Size Projects stream. Finding a Blue Ocean is all about driving high value for your customers while striving to reduce costs for businesses. Blue Oceans can be created by all types of businesses in any industry. Most businesses operate in a Red Ocean: a highly competitive, crowded area of the market where businesses compete on small variances in price, service, speed and/or quality with shrinking profit margins.Blue Oceans are the complete opposite, as they are underserviced, high-growth markets that have a very high potential for healthy profit margins. This article will dive into this renowned method of discovering opportunities for disruptive innovation and how you can try this with your current or prospective business ventures. Maurborgne’s Blue Ocean Strategy, which was created based off of primary research conducted on over 150 businesses across more than 30 industries spanning over 100 years.īusinesses that undertake a Blue Ocean Strategy approach to strategic planning can discover new, innovative ways of conducting business and uncover markets with little to no competition.Īpple, Uber, and AirBNB all benefitted from this approach to discover unique market opportunities. What if everything your business has been doing since its inception was flipped upside down and the complete opposite approach was enforced? This is the concept behind W.
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