Developing strategies requires you as a manager to engage in strategic thinking which involves a systematic process that guides you on the question to ask in order to build strategies that will enable you draft clear and concise strategic plans.
In respective of where you act as a manager people should be able to look up to you for reassurance and guidance in the period of uncertainty. Strategic thinking directs present action and improve future performance.
Developing strategies involves the deployment of five basic, five combination and three higher order skills. The five basic skills comprises of memory, imagination, numeracy, empathy and conversational thinking.
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The three higher order skills teaches how you can;
a) Escape from the past in order to create usable knowledge.
b) Create present ideas in order to direct present action.
3) Rethink the future in order to improve future performance
CREATING NEW MARKET USING BLUE OCEAN STRATEGY
During the pandemic managers all over the world thought of ways to strategise in order to deal with the new challenges ahead of them.
At the beginning of the pandemic companies faced heightened degree of competition as customers demand are reduced due to low income, rising unemployment and looming uncertainty.
As everyone desires an economic rebound, it became difficult for companies to overcome the current financial distress.
The above challenges led to the creation of blue ocean strategy.
Blue ocean strategy focuses more on what customers really want rather than focusing on organisational rivalry.
It is worthy of note that making your customers happy as well as knowing their needs should be the first priority of any organisation.
In most organisation already existing customers are just a drop in the market compared to no customers who can be reached through market creating strategies.
It now depends on you as a blue ocean strategist to fashion out ways to address them in order to unlock and attract a larger number of prospective customers.
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