Paraphrasing the timeless wisdom of William Shakespeare:
‘Some companies are born great, some achieve greatness, and some have greatness thrust upon them.’
If you accept this deterministic view of business, then your company either falls neatly into one the three categories above, or it’s not (yet) a great company. Which is it?
But there is an alternative view professing a level playing field. Any company can become great, regardless of where it is today. The barometer of success is no longer the size of companies or R&D budgets, but making the right strategic decisions at the right time. This is the premise of Blue Ocean Strategy.
Between 1975 and 1995 sixty percent of Fortune 500 companies on the list were replaced, and results published in 2008 show that this trend is likely to continue. In 2008 earnings from Fortune 500 companies were down 85% compared to the year prior, and 128 companies on the list had losses compared to 57 the year prior.
Suddenly the clear delineation and hierarchy among companies is blurred. Which way is your company headed? Might it be time that you embrace Blue Ocean Strategy as your company’s framework for success?
[Image via Michael Downey.]
