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Thursday, December 6, 2012

Blue ocean strategy for SME

IF YOU are an SME and caught in a tough business environment, what would you do?

Do you follow what the competition is doing, or do you move away and be a trail blazer?

If you follow the competition, you may fall into the Red Ocean, where competition is stiff but if you move away from it, and identify your own space, you will swim into the Blue Ocean and create your own uncontested market space, and at the same time, make the competition irrelevant.

To achieve this, you must create your own value proposition, rather than follow or benchmark the competition.

SMEs can gain uncontested market space, strengthen their position, and create sustainability by focusing on brand creation. That is the premise of "Value Innovation Programme for SMEs" to be launched at Grand Dorsett Subang, Petaling Jaya on December 12.

President of The BrandLaureate Dr KKJohan, said: "The programme will use Blue Ocean Strategy to help companies create new markets and recreate existing ones within a short time, at lower cost, and higher level of knowledge transfer and skill building.

The programme, jointly organised by The BrandLaureate and UCSI Blue Ocean Strategy Regional Centre (BOSRC), consists of a four-day workshop, over a period of two months. It is suitable for CEOs, CMOs, CFOs and senior management involved in brand building.

* Field Work

After each workshop, a twoweek field work exercise will be conducted for each brand, where the results will be validated, and made known to each organisation.

"By the end of eight weeks, companies will be able to chart a new path of growth for their brand, and develop the blueprint for execution".

Johan added: "The BrandLaureate and UCSI BOSRC strongly believe that SMEs have the potential and dynamism to rise above their status and move on to become emerging giants.

"What is needed is the right approach and support that leads to the creation of ideas and breakthroughs in business growth. Hence, the Value Innovation Programme for SMEs is a solution to help them realise their brand potential, and achieve leap frog growth."

* Dedicated Team

During the programme, a dedicated team of Blue Ocean Strategists with proven track record will guide participating companies on the right track to build their brands. Each organisation may send up to five participants for the programme, and they will have a lead Blue Ocean Strategy consultant, and a support staff.

This programme is not only restricted for SMEs but for any organisations who wish to grow their brands in an uncontested market space.

* Memorandum of Understanding

A memorandum of understanding will also be signed between The BrandLaureate and UCSI BOSRC on December 12, followed by a talk by two key Blue Ocean Strategy specialists Raj Kumar, the Director of Strategy and Innovation and Project Lead; and senior consultant David Noon.

Both have worked with many international corporations and SMEs in implementing the Blue Ocean Strategy.

For more information, call The BrandLaureate Secretariat at 03-77100348 or email info@thebrandlaureate .com.

INFO

The Importance of Brand Identity

AS the business environment gets tougher each passing day, how do small enterprises (SMEs) survive with limited resources and capacity? President of The BrandLaureate Dr KKJohan reiterated that Brands must have their own distinct identity which consumers can associate with.

"They must develop their brand to be the market leader, one that defines and sets the benchmark of excellence".

Professor W. Chan Kim and Renee Mauborgne, the authors of the Blue Ocean Strategy, pointed out that If we continue to benchmark the competition, we will end up looking like them, and consumers will not be able to identify the difference.

"Stop benchmarking the competition. The more you benchmark your competitors, the more you tend to look like them..." added Johan.


Credit to NSTP 1Classified Team and Google Images

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