Innovation: Just what is a “Blue Ocean Strategy?”


I used to be confused when people talked about innovation in Financial Services. They said it went on but there was very little evidence.

Gradually, over the years, I realised that the nature of FS innovations was such that they were merely presented in marketing campaigns as being of benefit to the customer when, in truth, they were more about improving the company’s bottom-line.

Insurers and banks are now in deep, dark, holes of their own making because, whilst the NEED to innovate and to rebuild customer TRUST is apparent, any successful product or service innovation MUST respond to what their existing and prospective customer demands:

Transparency

Value

Sustainability

These require more than a “creative spark” they require a cultural shift before the process can even begin…

Just what is a "Blue Ocean Strategy?" I thought that this was a far better summary, of what "Blue Ocean" is about, than I could manage. Well worth a read as it may spark THE idea that provides you and/or your business with a "new path" through these tough trading conditions:  Renee Mauborgne, Co-Author of Blue Ocean Strategy Summary: The primary concept is simple: Blue Oceans represent unknown, uncreated market space. They become wide open opportunities once disco … Read More

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