Blue Ocean Strategy for VIT’s growth

Session notes

on

‘Blue Ocean Strategy for VIT’s growth’

by

Dr.Anand A.Samuel, Vice-Chancellor

Date:26.06.2020

 

 

 

We have to benchmark our institution like IITs, IISCs, and the world’s top universities. We should plan to catch them in 5 years (faster pace).

 

Like a mouse inside a mousetrap, we should not panic about some uncertain situation. We should think for a while to overcome such a difficult situation. Once we come out of our anxiety, and other personal barriers, we will get the strength to handle it.

 

MASLOW’s Hierarchy of needs:

Physiological, Safety, Belonging, Esteem, Self-Estimation- all these need to be fulfilled for entering into innovation mode.

 

In our cultural iceberg, some are easy to see whereas some are difficult. Some of our beliefs and assumptions may not be accepted according to our university norms. All of us should be involved in doing Admin, Research, Teaching, Extension activities in various proportions.

All of us should have high self-esteem.

 

Concorde(High-speed flight, flies in high altitude)

 

One small mistake by Concorde made its place in the museum. So even if we have the expertise, we should make sure that we are useful in the organization. We should be flexible to changing needs. To strategize the blue ocean strategy, we should be familiar with all the digital tools. All of us should have out of the box,  and innovative thinking.

 

QS/NIRF-Main target

 

Red ocean-focus on current customer and benchmarking. Whereas, the blue ocean focuses on the unexplored, creating a new market. Blue ocean strategy has many success stories. We should find out whether it can be applied to the educational sector.

 

Blue Ocean Strategy Canvas:

 

We first think about factors affecting the competition and compare it with competitors. Furtherthermore, we should innovate so as to come ahead of them.

 

 Four action framework-    Reduce/Eliminate                     Raise/Create

                                   (Strategically reduce cost)       (Strategically invest in)

 

 

 

We have to apply the blue ocean strategy by considering universities like Amity/Manipal/ to improve the QS/NIRF rank of VIT.

 

Blue ocean is not for all time, but even if we succeed to be in it for four to five years it is good.

 

 

There are six paths to blue oceans. It can be applied to any industry- circus, cinema, education.

Path 1:Look across alternative industries(Netjets)

Path 2: Look across strategic groups within an industry(Curves)

Path 3:Look across buyer groups(Novo Nordisk-Insulin)

Path 4: Look across complementary products or service offerings(Amazon, B&N)

Path 5: Look across the Functional-emotional appeal to buyers(Swatch)

Path 6: Look across time trends(Apple)

 

Keeping the above points into consideration we should apply it to our organization.