Is it possible to innovate and make the competition irrelevant with BOS? This is the question posed recently to BusinessWeek’s Innovation Editor, Bruce Nussbaum. His answer unequivocally echoes and reinforces what we have said all along, that Blue Ocean Strategy, with its simultaneous pursuit of differentation and low cost, IS THE WAY OUT of the global economic downturn, and that it is, in fact, the foundation for the future.
According to Nussbaum:
The entire global economy today requires Blue Ocean Strategy. It requires going into a whole new space — a whole new space in your mind, in your corporate strategy, in your corporate tactics — to do well, to prosper.
The old rules are changing. They’re dissolving, they’re not working. We are really falling into a disatrous global recession... This requires a new mindset. It requires taking the old stuff ... that got us through the 90's and generated a lot of wealth a lot of prosperity, and we’re going to have to dump that. As we deal with and come out of this recession, we are going to need in both civic culture and business culture a new framework. We are going to have to design new rules, new structures, new relationships, new values to deal with a differnt world. We have to assume the world is going to be very very different....
The old rules are changing. They’re dissolving, they’re not working. We are really falling into a disatrous global recession... This requires a new mindset. It requires taking the old stuff ... that got us through the 90's and generated a lot of wealth a lot of prosperity, and we’re going to have to dump that. As we deal with and come out of this recession, we are going to need in both civic culture and business culture a new framework. We are going to have to design new rules, new structures, new relationships, new values to deal with a differnt world. We have to assume the world is going to be very very different....
[Video source BusinessWeek .]
