Companies are increasingly finding themselves adrift in a blood red ocean of opposition, filled with sharks and characterized by commodity competition, declining price points and market share battles. Accelerated globalization processes and technological progress accentuate and contribute to this red ocean competition.
Industrial productivity has improved substantially and in many industries, supply is outpacing demand. Information on products and pricing is globally available and niche markets and monopolies continue to disappear. To create strong profitable growth in the future, companies must break out of this red ocean of bloody competition. They must create blue oceans of new market space where there is no competition. This will require a shift in thinking from supply to demand and from competing to creating innovative value to unlock all new demand and make the competition irrelevant. The question is what are the leadership capabilities needed to create a blue ocean organization that is capable of creating and capturing blue oceans?
In this talk, Renée Mauborgne will address the leadership capabilities needed, how management can quickly and cost-effectively overcome the inevitable organizational hurdles and how the most vocal nay-sayers can be silenced. She will specify ways to make unforgettable and unarguable calls for change, ensure resources are allocated in the right places and mobilize the commitment of the organization’s key players.
Renée Mauborgne, along with her colleague W. Chan Kim, is the co-author of the international bestseller Blue Ocean Strategy: How to Create Uncontested Market Space and Make the Competition Irrelevant. She is an INSEAD Distinguished Fellow, a professor of Strategy and Management at INSEAD and Fellow of the World Economic Forum. In addition, Professor Mauborgne has published numerous articles on strategy and managing the multinational.