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How are businesses going to overcome this global challenge? Is there any potential for the future of business?
What is needed for businesses to move forward?
Above the Ocean Strategy (AOS) is an essential tool that will help businesses see an overall 360-degree change and access to the core of a problem. It also opens up ways for businesses to turn the current problem into an opportunity by providing a new perspective on how to overcome the crisis and position themselves above the market competition (ocean) as well as building their own unique and successful ecosystem. AOS consists of four powerful keys as follows
1. Understand Ocean Cycles Successful businesses should be able to flourish in normal times and survive in times of crisis or sudden change which are becoming more frequent and intense. In the usual situation where businesses are not confronted with high complexity, the system is the most important part of their operations. On the contrary, as the crisis arises, many things are not the same and the conventional system is no longer viable. Businesses need excellent “mindset” and “communication” as key drivers for effective adaptation.
2. Identify the Ocean Some of you may have heard of the Blue Ocean, Green Ocean and a number of other oceans that have gradually emerged. As we are in a society in which the values of each ocean are blended and change continues to take place, it is impossible to judge which ocean is better than the other. Success now depends on how well businesses can design their value system which will eventually become the unique ocean for them.
3. Design Above the Ocean Whether businesses will be a game player or a game creator, it depends on the perspective they take. Having the courage to stay above the ocean by taking a new perspective enables businesses to gain a better understanding of the new rules, roles and relationships as well as a more effective strategy. As a result, businesses will be able to redesign the ecosystem from "compete-to-win" to "collaborate-to-grow"
4. Succeed through the Ocean Growth As a game creator, businesses can’t be solely responsible for their profit-based success. Designing their oceans or ecosystems requires them to be responsible for profit, people and planet. Businesses, therefore, can stay ahead of change and be able to adapt to sustainable growth. On the one hand, the risks and crises are what we all want to avoid. On the other hand, they are a good reflection of the strength of the business. Businesses with an ability to withstand or thrive in the crisis are likely to survive in the long term. Afterall, COVID-19 is both a crisis and an opportunity for businesses to redesign their operations, including the relationship between Profit, People, and Planet.
Take a deep dive into our Above the Ocean Strategy for a more in-depth overview of the transition and transformation needed for your business during and after COVID-19.
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