At Blue Ocean CMC, we truly believe that implementing a Blue Ocean Strategy is the best option for a business stuck on a plateau or that simply wants to grow sales and be better recognized. That being said, there are several limitations, and we want to share them with you so that you can fully understand the risk/reward ratio.
Blue Ocean Strategy is a high-risk, high-reward formula. These risks include, but are not limited to:
Implementation protocol: The BOS model lacks a clear implementation protocol and procedure.
Scientific validation: The scientific strengths of the BOS have not been validated.
Practical applicability: The BOS model's practical applicability is questionable.
Reality check: The BOS can lead companies to "oceans" that are dead or empty.
Market response: The market response to the BOS is uncertain.
Breaking away from norms: It can be difficult to break away from established norms and practices.
Imitation: Competitors may imitate the BOS.
Sustaining the strategy: It can be challenging to maintain the BOS in the long term. And finally:
Lack of strategic fit: The BOS's Four Actions Framework doesn't address how different business model elements interact and support each other. This can lead to disjointed strategies that aren't sustainable.
Of course, to validate these risks costs will be incurred that may be substantial. This is where we come in and quantify each so you can stay within your budget.
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