Saturday 29 October 2011

Your Blue Ocean Strategy In Life

A few weeks ago, during the townhall meeting conducted by my company's CEO, he mentioned about the Blue Ocean Strategy in business context. "Blue Ocean Strategy" is a popular business strategy that aimed not to out-perform the competition in the existing industry, but to create new market space or a blue ocean, thereby making the competition irrelevant.

In short, in order to survive in the longer run, you need to constantly find or create new market(s) instead of "fighting" with the competitors on the existing market. For example, Apple's iPod or iTunes, Amazon's online business are some of the well known product of the Blue Ocean Strategy... This has set me thinking about our personal life i.e. can we not apply the Blue Ocean Strategy to our personal life?

I am aware that life is not like market whereby you can choose the familiar market to begin with (i.e. your choice of industry, products or services). We can't choose how/where to start our life, however, I believed that we are free to change the path/course of our life to our desired destination. So, if you equate the market of business = path/direction of your life, I am sure you can find some similarity in the strategy in preparing for your business as well as for your life!

Of course, Blue Ocean Strategy comprises of many tools, frameworks or methodologies that are applicable only to the business environment, but the key is we need to think out of the box, not only in business environment but also in our personal life! Open your mindset and not to be stereotyped by your experiences or existing knowledge... as my CEO always said "The best is yet to come".

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So, why not create your own Blue Ocean (in life) instead of just living in a river or sea! I am sure you folks know what I meant! ;-)


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