What is Blue Ocean Strategy for National Development?
Blue Ocean Strategy is a business strategy book first published in 2005 and written by W. Chan Kim and Renée Mauborgne of the Blue Ocean Strategy Institute at INSEAD. The book illustrates what the authors believe is the best organizational strategy to generate growth and profits. Blue Ocean Strategy suggests that an organization should create new demand in an uncontested market space, or a “Blue Ocean”, rather than compete head-to-head with other players in an existing industry.
National Blue Ocean Strategy will address the gap between strategy formulation and execution in the government that always result in project delay or poor implementation. It will enable the government to unlock the underutilized resources resulting to great savings through creative deployment of these resources.
By adapting Blue Ocean Strategy, governments will break out of the fierce but silent competition between countries (Red Ocean) and sail through to a Blue Ocean with unique calmness driven by innovation and rapid growth.
Blue Ocean Strategy will assist the government to break out of the shackles of ‘status quo’ by challenging the conventional wisdom enabling it to emerge as the state of the art and becoming the model government.
This will be achieved through:
Anchoring growth on people
Enhancing inclusiveness towards an equitable society
Improving the well-being of all
Accelerating human capital development
Strengthening infrastructure to support economic expansion
Re-engineering economic growth for greater prosperity