Media Release
Bangalore, Sep 21: T A Pai Management Institute [TAPMI], one of the leading B-schools in India launched the India Blue Ocean Strategy Research Centre (IBOSRC) in collaboration with Blue Ocean Strategy Regional Centre, Malaysia.
The centre is first of its kind in India to train Indian corporates, students, and faculty to strategize and develop competition free market system. Blue Ocean Strategy is an internationally proven system that makes competition irrelevant by creating new market spaces through simultaneous achievement of differentiation and low cost. Blue ocean strategy (BOS) is about moving away from the traditional approach with existing competition. It creates competition free markets.
As a part of the launch of IBOSRC, a one-day symposium was held on Blue Ocean Strategy chaired by Dr K R S Murthy former director, IIM Bangalore and addressed by key dignitaries Shekhar Kapur, noted film personality and chief guest, Dileep Ranjekar, chief executive officer (CEO), Azim Premji Foundation, Anand Sudarshan, CEO, Manipal Education, Dr Yoo Sook Saw, managing director, LGSoft India and Dr Robert Bong, CRICT Research USA.
Speaking at the launch Dr Saji Gopinath, director of TAPMI, said, “We are pleased to launch the first of its kind IBOSRC in India. We believe it will help the Indian Industry, student community and the faculty immensely as we are living in an era where market dynamics are changing rapidly and continuously. TAPMI has always been an innovative Institution and the Blue Ocean Strategy Research Centre is one more of such innovation.”
IBOSRC will conduct in-depth empirical and case study research to build a strong body of knowledge in the emerging area of BOS in India. The Centre will also be involved in training, faculty development and education activities specific to the Blue Ocean Strategy. By adopting BOS philosophy in its PGP curriculum, TAPMI is redefining and orienting the future generation of managers graduating from its Institute to the new way of thinking which breaks traditional beliefs of compromises and tradeoffs.
Peter Tan of the Blue Ocean Strategy Institute, Malaysia said, “Blue Ocean Strategy is all about generating high growth and profits for an organization by creating new demand in an uncontested market space. It has now become a well accepted and popular business strategy globally. India is one of the emerging markets with high potential. We are happy to set up the research center in Bangalore along with TAPMI, one of the premier management Institutes in the country.”
Tan said, Indian industry needs to enter a market through innovative products and services as well as redefine the traditional beliefs and boundaries, which is the essence of Blue Ocean Strategy. At this juncture Indian industries are facing severe competition from companies both local and global and it is necessary for them to identify large markets where competition is irrelevant. In today’s over crowded market, competing head-on results in nothing but a bloody “red ocean” with rivals fighting over a shrinking profit pool.
Blue Ocean Strategy proposes six principles a firm can use to formulate and execute its strategy and avoid the “red ocean”. These principles help to reconstruct market boundaries, focus on the big picture to reach beyond existing demand, to get the strategic sequence right and overcome organizational hurdles to build execution into strategy through education, research and consultancy. The corner-stone of blue ocean strategy is 'Value Innovation'. A blue ocean is created when a company achieves value innovation that creates value simultaneously for both the buyer and the company.