The Four Steps of Visualizing Strategy: Step One — Visual Awakening

Continuing with weekly insights on Blue Ocean Strategy fundamentals, we advance to the Strategy Canvas.  This visual process has four steps.  Today we focus on the first step — Visual Awakening, which, along with each step to follow, will be made accessible through the Blue Ocean Strategy Basics archive.  For the first step in visualizing strategy, we turn to pages 84 - 85 of the book Blue Ocean Strategy (co-authored by Professor W. Chan Kim and Professor Renée Mauborgne):

A common mistake is to discuss changes in strategy before resolving differences of opinion about the current state of play. Another problem is that executives are often reluctant to accept the need for change; they may have a vested interest in the status quo, or they may feel that time will eventually vindicate their previous choices. Indeed, when we ask executives what prompts them to seek out blue oceans and introduce change, they usually say that it takes a highly determined leader or a serious crisis.

Fortunately, we’ve found that asking executives to draw the value curve of their company’s strategy brings home the need for change. It serves as a forceful wake-up call for companies to challenge their existing strategies. That was the experience at EFS (a European Financial Services Co.).  A detailed illustration of EFS’ visual awakening is provided on pages 85-87 of Blue Ocean Strategy.

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[Image via fine art america.]