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A startup can leverage the principles of the Blue Ocean Shift to foster growth and innovation by creating a new market space or "Blue Ocean". This involves differentiating itself from competitors and making the competition irrelevant. The startup can do this by focusing on innovation and value creation rather than competing on existing market parameters. It can also implement fair process, which involves engaging employees in strategic decisions, explaining the reasons behind decisions, and setting clear expectations. This can help to foster a culture of innovation and risk-taking, which is crucial for a Blue Ocean Shift.
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Taken together, these three elements make it possible for people not only to buy into the whole process of a Blue Ocean Shift, but also to be willing to actually implement the changes required to make it happen. For example, in many industries innovation creates added risk, which might not be welcomed by some individuals if their objectives or Key Performance Indicators are aligned only with lowering risks. This is typical of regulated industries. During the Fair Process implementation, objectives and KPIs might need to be re-written such that the organizational culture can shift.
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Released in early-October 2017 — Blue Ocean Shift — is the continuation of the award-winning Blue Ocean Strategy, a bestselling strategy book based on...
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