Wave.The developers 4 main questions
The liquid foods industry is dominated by red ocean strategies, which means that companies are obsessed with their competitors and thus fight fiercely for their piece of limited demand.
But in many cases, a far more promising and profitable approach is to use a blue ocean strategy, which means to focus on all the ways of doing business that are not yet in existence and thus offer nearly unlimited potential.
So far, I’ve only told you insights you may have already read in a book.
One of the biggest learnings I’ve had in my career is that the best companies employ both red ocean as well as blue ocean strategies, and that they master the hardest trick of all: to enable individual employees to grasp which strategy they are employing at any moment in time.
Everything about these two strategies is different. Red is obsessed with competitors, while blue is focused on unmet customer needs. Red is likely to engage in a price war, while blue adds more value and has higher margins. As such, your employees must understand the difference, or they will frequently make errors in judgment.
Doing something no one has ever done before requires the realization that, well, no one has ever done this. It’s supposed to be hard… and different!