Think blue, Act green: The right strategy for businesses | Bangkok Post: business

WEEKLY LINK

The intersection of Blue Ocean Approach and Green Supply Chain may become the most obvious strategic direction to pursue for all businesses affected by last year's half-a-century flood crisis in Thailand.

Although oft repeated terminologies, a closer look at the definition of these terms will be useful for better understanding of the underlying concepts.

The cornerstone of Blue Ocean Approach 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. The innovation (in product, service, or delivery) must raise and create value for the market, while simultaneously reducing or eliminating features or services that are less valued by the current or future market.