For your selected company(Hasbro), provide a potential “break-out” innovations for Look Across Alternatives Industries(Edible Plato) and Look Across Time Trends (Come up with a innovation) “Six Paths Framework” (see Chapter 3 of Blue Ocean Strategy text). You are not restricted or limited to one innovation per path! You may want to generate “break-out” innovations for each path as a team activity (discussion-debate) or you may want to have each team member generate “break-out” innovations for each of the paths and then evaluate (see Step 2 Screening Method, below) the innovations.
TIP: Don’t put the cart before the horse! Your task will be made more difficult if you ignore the paths’ purpose and get the horse before the cart, i.e., brainstorming random concepts and then trying to make them fit the various paths. You will waste valuable time and end up with poor concepts. Trying to make an unrelated concept fit into a path is like trying to fit a square peg into a round hole — and will be obvious!! Who will notice? Yes, your instructor looks for quality concepts in all paths.
Blue Ocean Innovation Concepts and the Six Paths
It is important that you provide a brief explanation WHY each innovation concept in EACH path meets the criteria for that path!!! For each concept provide an explanatory comment as to how the concept meets EACH of the criterion below (1-8):
Minimum qualifications for a concept to be an innovative concept (necessary but insufficient for a blue ocean innovative concept):
1) it must provide an overt benefit to a user
(Provide explanatory commentary)
2) it is unique and not easy to imitate
(Provide explanatory commentary)
3) it it feasible and can be implemented
(Provide explanatory commentary)
4) its return exceeds its cost
(Provide explanatory commentary)
5) it offers a complete value proposition
(Provide explanatory commentary)
Minimum additional qualifications for a concept to be a blue ocean break-out innovative concept:
6) Creation of new industries
Blue oceans denote all the industries not in existence and are defined by untapped market space, demand creation, and the opportunity for highly profitable growth.
(Provide explanatory commentary)
7) Uncontested market space
Instead of focusing on beating the competition the focus is on making the red ocean competition irrelevant by creating a leap in value for buyers and the company thereby opening up new and uncontested market space.
(Provide explanatory commentary)
8) Value Innovation
Blue Ocean Innovations may be New to the world but most tend to be New to the market or New product line based on what the Blue Ocean Strategy authors call “value innovation.”
(Provide explanatory commentary)
It is one thing to describe a concept and another thing entirely to explain why the concept is a blue ocean concept. You will need to explain how each concept meets the definition of a blue ocean concept. You need to make your case that the concept is truly a blue ocean concept — one that makes the competition irrelevant by creating a leap in value for buyers and the company thereby opening up new and uncontested market space.
Important: If a concept is a convenience or service, if it is a promotional or sales program, or any concept alternative that has as its goal to retain or attract customers in order to outperform rivals in the existing market space, then the concept is not in a blue ocean! Blue Ocean concepts do not have competition — by definition they are about uncontested, new market space.
Summary: Blue Ocean innovation concepts create SIGNIFICANT value for customers and your company. This value is what leads to uncontested market space — no competition. See the discussion on Value Innovation in the Blue Ocean Strategy text, pp 12-18.
Tip: Break away from the present to find the future — blue ocean concepts
Communication satellites, television sets, cellular telephone, express package delivery, personal computers, integrated circuit, cellular telephone, and microwave oven are all examples from the texts. They really do not offer much in the way of a means of help in generating an innovation concept. Of course, THAT is the your task. What existed before these products? It is difficult to imagine how things were without these products. But, at one point in time, they did not exist.
None of these innovations were mere adaptations or modifications of existing products. Each concept was a break from existing products and a gigantic leap into the future.
So, step back away from your selected company’s existing products. Existing products (and their competition) are anchors to the present; look beyond today and into tomorrow — what if? Abductive thinking!
You can begin by looking at the company’s defined business/markets and looking into the future — non-existent, disruptive products that can create demand with no competition, etc. Please see innovation project 2 attachment for examples. Please other attachments for reference.
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