Green Ocean Strategy 7 April , 2007Posted by eugene in 4 Spread Message & Influence Others.
More companies are starting to be environmentally conscious. I’m not only referring to companies implementing an environmental managment system and getting itself ISO 14001 certified, it’s about companies planning and doing their business with the environment in mind first. I refer to companies doing that as adopting the “Green Ocean Strategy”, rephrasing from the popular book, Blue Ocean Strategy, by W. Chan Kim and Renee Mauborgne. The blue ocean strategy is about creating opportunities from unexplored markets and making the competition irrelevant.
The green ocean strategy (GOS) refers to creating opportunities from environmental risks and pressures, environmental awareness among consumers, and environmental design, marketing and technologies. It is not just about companies carrying on with their business and taking care of the environment, it is more about companies taking care of the environment as their business and making profits along the way. As Starbucks would say, it is not serving coffee to customers, it is serving customers with coffee. Or Sam Walton of Wal-Mart would say, profits are a by-product of good service. Some examples of GOS include General Electric’s Ecomagination and Honda’s Environmentology.
Singapore will be hosting the Global Business Summit for the Environment (B4E) from 19 – 20 April. B4E is an international conference on business and the environment, and “aims to highlight the environmental challenges facing global business today and share strategies and best practices for corporate environmental responsibility”. Hope that companies will gain insights from this conference and exercise their environmental responsibility. If companies don’t adopt the GOS, they would likely become irrelevant in the near future.