successful products They are risk averse Focus too much on present What needs to be done? Identify the gaps New customer segments emerging /customer segments that existing competitors neglect New customer needs emerging, or existing customer needs that existing customers do not serve well New ways of producing, delivering or distributing existing (or new) products or new services to existing (or new) products/services. Selling the idea internally The company must communicate and explain its objective so that there comes a point when everybody says I know what we are trying to achieve and I understand why. The company should make the objective realistic and achievable so that people say, Yes, we can achieve this objective. People must move from rational acceptance of an objective to emotional commitment. Rational Acceptance to emotional commitment Make people feel part of an elite group that is difficult for others to enter. Reinforce the team feeling through symbols and rituals. Create a credible enemy for the team Create positive and negative incentives to promote the chosen objective Allow people to develop the objectives themselves and empower them to carry it out. Lead by example. Keep communicating and reminding people of the objective. Blue Ocean vs. Red Ocean Strategy Blue Ocean Strategy examples Blue Ocean Strategy examples Blue Ocean Strategy Indian Examples Tata Nano First affordable family car Rewa Electric First Electric/Smart car Royal Enfield First Powerbike MUSA High powered tractors Narayana Hrudayalaya - Making heart surgery affordable GCMMF (Amul) Procurement, processing and distribution of packaged milk products