Essay About Tipping Point Leadership And Key Points Of Blue Ocean Strategy1

Blue Ocean Strategy Implementation Scenario Case: Tipping Point Leadership and Fair Process in Action
BLUE OCEAN STRATEGY IMPLEMENTATION SCENARIO CASE: TIPPING POINT LEADERSHIP AND FAIR PROCESS IN ACTIONINTRODUCTIONBlue Ocean Strategy was developed by W. Chan Kim and Renée Mauborgne. They observed that companies tend to engage in head-to-head competition in search of sustained profitable growth. Most companies focus on how to overcome the competition in existing market but yet they experience limited growth. They had created a comprehensive set of analytic tools and frameworks any organization can apply to create new market spaces and make the competition irrelevant.Blue ocean strategy is a new way of thinking and a new strategic mind-set. It is about creating new market instead of competing with the existing one. It holds a concept that the best way to beat the competition is to stop trying to beat the competition. Firms should focus on capturing new demand and value innovation while driving down costs for companies. 8 Key Points of Blue Ocean Strategy1) It’s grounded in data2) It pursues differentiation and low cost3) It creates uncontested market space4) It empowers you through tools and frameworks5) It provides a step-by-step process6) It maximizes opportunity while minimizing risk7) It builds execution into strategy8) It shows you how to create a win-win outcomeSimilarly, Blue Ocean Leadership provides a systematic way to unlock the unrealized talent and energy in the organization fast and at low cost. Tipping Point Leadership means to overcome hurdles in order to achieve a strategic shift at low cost by focusing on the extremes transformation of the people, acts, and activities that exercise a disproportionate influence on performance. The concept of tipping point leadership claims that great change can be done very fast and with minimal resources by focusing on points of leverage to overcome all hurdles as outlined below in The Four Key Blue Ocean Implementation Hurdles which is cognitive, resource, motivational and political. Fair process is a concept that builds execution into strategy thru the defined process of engagement, explanation, and clarity of expectation (also called as three E principles). It suggests that any implementation should engage employees in strategic decisions that affect them (getting their feedback, thoughts, and ideas), explaining the rationalization for the final decision and making the expectations very clear to all those involved or affected. Table 1 show all the analytic tools used in blue ocean strategy.The Blue Ocean Strategy Implementation Scenario Case offers a set of interactive group scenarios which are designed to deepen the understanding of blue ocean strategy implementation principles. The five scenario (health insurance, manufacturing, government, banking and politics) shows how blue ocean strategy implementation principles apply at different organizational levels to overcome the four key implementation hurdles (cognitive, resource, motivational and politicalFour Key Blue Ocean Implementation Hurdles