BLUE PLANET:
ANALY SIS
WHAT THE EXPERTS SAY “The beautiful idea of a blue ocean strategy is perfect for multigenerational family businesses. If a firm is going strong after multiple generations, it has had to innovate and change.” Carol Pepper, Pepper International
“Any company—no matter what industry—can apply innovative thinking and a blue ocean strategy to successfully launch new products or services to market and remain competitive.” John Casella, Casella Family Brands
“As a fifth-generation family business, Eberspächer has a longstanding innovation gene to realise ideas rapidly and beyond the constraints of day-to-day operations.” Heinrich Baumann, Eberspächer Group
“My clients who pursue blue ocean strategies do so via separate strategic business units—to break down silos and establish new entities altogether.” Imran Zawwar, Cranfield University School of Management
“We found that many people were intimidated
by the mature, stuffy wine industry and avoided wine because they did not want to learn about vintages, varietals, regions or any detailed wine terminology. “We decided that the key to differentiation was
to demystify wine and ensure that we brought enjoyment to our consumers’ lives by being more playful and vibrant. Thus, Yellow Tail was born.” In less than 10 years, Yellow Tail became
the number one imported wine and the fastest- growing brand in the history of the US and Australian wine industry.
Below: John Casella, managing director of
third-generation Australian winemaker Casella Family Brands
Opposite, top: The Eberspächer autonomous driving system
Opposite, bottom: Cirque du Soleil, a blue ocean strategy pioneer
SEA CHANGE Blue ocean approaches are neither the preserve of Silicon Valley start-ups nor risk-friendly venture capitalists, say experts familiar with the model. But the tactic implies a willingness to change.
Pepper believes that soon few firms will be untouched by snazzy technologies or forms of artificial intelligence that will ultimately foist change upon business clans. “Whether a family is making artisanal products
or coming up with new apps, there is not one business that is not facing constant change,” she says. Embracing it nimbly will be critical. “Today literally all business is affected.
An ancient Italian family vineyard may find opportunities to sell wine in a far-flung province in China, where their type of grape can become vastly popular to millions of new consumers rather than fighting for shelf space in Milan.” As to how best a family firm can ready itself for
a blue ocean gambit, Pepper advises a hard look at balance sheet fundamentals. “There should be a hurdle rate of return for the
family business. If the business is not meeting its rate, then it needs to assess whether their business is a cash cow, a star or a dog that becomes a ‘red ocean’ situation with too much competition.”
PHOTOGRAPHY: PRESS ASSOCIATION, EBERSPÄCHER GROUP, CASELLA FAMILY BRANDS
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