The Global Blue Ocean Awards recognise highly creative and innovative initiatives around the world. The essence of blue ocean strategy is delivering significantly high value or impact for customers (or for the people) at relatively low cost, and doing so rapidly. The Global Blue Ocean Awards will be given to projects or initiatives that demonstrate high levels of creativity through the impact that they deliver while reducing costs relative to more conventional ways of doing things. The execution of the projects or initiatives is also crucial and this is reflected in the criteria for determining the awards. Winners will be recognised in 6 categories along with an overall winner.
To participate in the International Conference on Blue Ocean Strategy (ICBOS) that will be held in Malaysia on 16-17 August 2016, please visit www.icbos.com.my.APPLY NOW
The National Blue Ocean Strategy (NBOS) is inspired by the principles of Blue Ocean Strategy (BOS) created by Professor W. Chan Kim and Professor Renée Mauborgne. It provides a creative and systematic approach to create high value at low cost. For more information on Blue Ocean Strategy, please visit www.blueoceanstrategy.com/.
This new approach was adopted by the Prime Minister of Malaysia and launched in 2009. Since then, NBOS has formulated and executed more than 90 initiatives and involves more than 80 ministries and agencies to address a wide range of social and economic issues. NBOS initiatives are formulated using the powerful tools and frameworks of Blue Ocean Strategy and are based on the principles of high impact, low cost and rapid execution. For more information on NBOS, please visit nbos.gov.my and www.blueoceanstrategy.com/malaysia-nbos/.
Blue Ocean Strategy was developed by W. Chan Kim and Renée Mauborgne. They observed that companies tend to engage in head-to-head competition in search of sustained profitable growth. Yet in today’s overcrowded industries competing head-on results in nothing but a bloody red ocean of rivals fighting over a shrinking profit pool. Lasting success increasingly comes, not from battling competitors, but from creating blue oceans of untapped new market spaces ripe for growth.
Blue Ocean Strategy challenges everything you thought you knew about strategic success and provides a systematic approach to making the competition irrelevant.
By using the tools and frameworks of Blue Ocean Strategy, individuals, companies and even countries can come up with truly creative and innovative blue ocean ideas.
To learn more about Blue Ocean Strategy, click here
The global awards seeks creative & innovative initiatives in each of the aforementioned categories that demonstrate excellence in all of the following three areas;
The extent to which an initiative improves the lives of beneficiaries.
The initiative should represent a new way of providing services and/or products that result in a higher impact than previous initiatives or otherconventional approaches towards addressing similar needs.
Examples of impact include:
Higher marks will be awarded to initiatives whose impact is large scale and sustainable. Some questions that can help the selection committee identify whether an initiative is exceptional in the impact area are:
Looks at the efficiency of the initiative - the extent to which it achieves lower cost (for the implementing organisation), relative to impact than previous approaches.
Examples of low cost include:
Higher marks will be awarded to initiatives that demonstrate how costs were substantially lowered as compared with conventional approaches. Some questions that can help the selection committee identify whether an initiative is exceptional in the cost area are:
The extent to which the initiative was able to be implemented more quickly than similar initiatives or other conventional approaches.
Examples of rapid execution include:
Higher marks will be awarded to initiatives that demonstrate how much faster execution was compared to other approaches and how that was achieved, such as through engagement with stakeholders and collaboration between different departments/groups. Some questions that can help the selection committee identify whether an initiative is exceptional in terms of execution are: