Do you remember working on a strategic plan for your recruiting business? Typically, this process involves hours and hours of research and meetings. Did the final document result in differentiating your firm from your competition? Increasing your firm profit?
Recently, I read an interesting book entitled Blue Ocean Strategy by W. Chan Kim and Renee’ Mauborgne. The authors suggest that creating a strategic plan is a Red Ocean Strategy. In this strategy, companies vie against their competitors either on price or differentiation. In the end, though, as more competitors enter the marketplace, a company’s share of the market decreases. Read the rest of this entry »