The impact of the Covid-19 pandemic has been significant on business and the economy. The crisis has badly battered some companies and presented opportunities to others. In either case, managers have scrambled to adapt to a changed world. How do you determine whether your makeshift models or practices will outlast the pandemic and set the trend for the future? Or are they just sub-optimal solutions that customers will discard once the crisis is over? Which elements of your crisis-time business solutions can be retained and built into your future offerings? Will the pleasant surprises you have created for your customers during the pandemic be economically viable in the long run? It is time for managers to systematically assess and rethink the existing practices to prepare for a powerful comeback in the post-pandemic world. A key blue ocean tool that can help is the Four Actions Framework. Built on four key questions, the framework supports managers in challenging an industry’s strategic logic and business model to arrive at blue ocean moves that break the trade-off between value and cost.
Asking these four questions may help companies get to the fundamentals of what they need most in the post-pandemic world – offerings that are both differentiated and low cost.
If you require assistance or would like to discuss in additional detail your 2022 strategy and planning approach for the future, feel free to visit us online via: www.mattallendevelopment.com or via email at firstname.lastname@example.org.
Now go attack your "Blue Ocean!"