As you have reviewed and analyzed the industry for your MAP, what initial thoughts do you have about potential areas of blue ocean opportunities for the industry?
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As you have reviewed and analyzed the industry for your MAP, what initial thoughts do you have about potential areas of blue ocean opportunities for the industry?
THE INDUSTRY IS TELEMEDICINE
INFO:
The blue ocean strategy is a business concept developed by Professors Kim and Mauborgne from INSEAD Business School. The blue ocean approach aims to identify ways a business can distinguish itself from the competition while lowering costs. This concept implies that, in some instances, creating a new market is advantageous to competing with the current one when already well-established competitors exist (Ganguly, 2020). These untapped markets are the blue oceans.
One of the ways blue ocean leadership is practiced at my workplace is through employee engagement at all levels. Blue Ocean Leadership prioritizes practical actions rather than guiding principles. 360-degree feedback is highlighted in blue ocean leadership, and the best way to establish a connection between leaders and their customers or important stakeholders is to have the people closest to the market reality provide direct feedback (Loh et al., 2019). Employee participation helps design leadership roles to help them accomplish their goals.
Another way my company provides blue leadership opportunities is through the distribution of leadership throughout the whole organization. Front-line, middle-level, and upper-level managers are clearly defined and distinguished. Each has its own set of responsibilities and power (Loh et al., 2019). Effective collaborative leadership enhances a company’s efficiency by unleashing many employees’ untapped skills and aspirations.
Blue Ocean strategy actively seeks opportunities for competitive advantage and reduces costs to establish new markets and demand. Blue ocean leadership is meant to be used at all levels of an organization, from the very top to the very bottom. In my organization, blue ocean leadership is practiced through employee involvement and the distribution of leadership.
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