#classsessions

Blue Ocean strategy is the idea of creating a company that succeeds because it pulls in an entirely new market compared to its’ competitors. The new company is no longer in a “red ocean” where there is blood due to the amount of competition, it is in a “blue ocean” where it has created a unique niche. The framework for Blue Ocean consists of eliminate, raise, reduce, and create. One company that is famous for being a Blue Ocean is Cirque De Solei. We actually got the chance to hear a guest speaker from Cirque and also watch the show. Read about that here. 

Another company that utilizes Blue Ocean strategy frequently is Apple. Almost all of Apple’s products create a Blue Ocean because they eliminate what is wrong with competitor’s existing items, reduce and raise smaller details in existing items, and finally create what the consumer actually wants.

The three “p” framework is found in the Innovator’s DNA. It consists of three parts: people, processes, and philosophies. The 3P framework theorizes that these three parts are the most essential components to a business. In order to see how this framework applied to a company, I examined the three P’s of IDEO.

IDEO is a truly unique and innovative company, so I wanted to further understand the people, processes, and philosophies behind the company. First, the people they employee are from all different backgrounds-- anthropology, engineering, business, psychology-- the list is endless. This goes hand-in-hand with their process, which is to put people from all different backgrounds on the same project. Doing this allows fresh, unique ideas because of the multitude of perspectives that are brought. Finally, IDEO employs a specific set of philosophies that act as guidelines when projects are being completed. Some of these philosophies include “encourage wild ideas” and “fail early to succeed sooner.” IDEO is a great example of how the people, process, and philosophies come together to create a successful business model.

Guest Speaker:

Our first Thursday night guest speaker was from Cirque du Soleil. I had seen Cirque once previously when I was younger, so I was really interested to hear the processes and values behind it. What makes Cirque so successful is the strong core values that the company has. Each employee must maintain these five characteristics: team player, responsibility, committed, passionate, and creative. Artists must also question ideas, think of how to improve/simplify processes, offer solutions to problems, and be open to new ideas. The reason Cirque is so successful is because of the collaborative environment that is encouraged. No artist is greater than another, and each team member is essential to the success of the show. 

The show:

Cirque du Soleil is a company highlighted as using Blue Ocean strategy in the circus industry. It eliminated star acts and animals; reduced humor, thrill, and danger; raised a unique stage; and created a theme, multiple productions, and artistic music/dance. The coolest part about Cirque was being able to see the Blue Ocean strategy present in a real company. The Cirque show captured my attention the entire time. Each separate act was unique and captivating in its’ own way. Also, acts were kept around five to ten minutes each, so none was too long. From optical illusions to acrobats to trampolines, no act felt boring or like a repeat. Despite this, there still managed to be a consistent theme throughout the show, tied together by the same score, similar visual background themes, and repeated characters. Cirque is an elevated, refined show that appeals to people of all ages, meaning more tickets are able to be sold. It is a truly unique experience that cannot be replicated, which is why it is so successful.

Innovator’s DNA is a model on what makes innovators great. It consists of two different segments: natural skills and skills that can be practiced and improved. The two natural skills are willingness to take risk and to challenge the status quo. The skills that can be practiced and improved upon are questioning, observing, associating, networking, and experimenting.

Taking this information, I stepped back and evaluated myself. I am more comfortable challenging the status quo-- I do not feel the need to change who I am to fit in. I am willing to take more risk than some but in general I would consider myself risk adverse. I do think that this course has helped me push and expand my limits, and I have found myself taking bigger risks. The next step was to evaluate the more flexible innovator’s DNA characteristics.

Throughout the semester, I worked on improving my innovator’s DNA, which can be read here.