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The Blue Ocean Shift challenges existing business paradigms, particularly in regulated industries, by encouraging innovation and risk-taking. This can be a significant shift for industries that are typically risk-averse and focused on maintaining the status quo. The Blue Ocean Shift encourages organizations to rewrite their objectives and Key Performance Indicators (KPIs) to align with the goal of creating new, uncontested market spaces (blue oceans), rather than competing in existing, saturated markets (red oceans). This can be particularly challenging in regulated industries where innovation may add risk. However, the Blue Ocean Shift argues that this risk is necessary for creating new value for customers and achieving high growth.
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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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