Tuesday, February 28, 2012

"WHITE SPACE" ---> I bet you have heard of Blue Ocean. But what the heck is "White Space" in Business? ---> Part of "Design Thinking"

From the link: http://continuuminnovation.com/design-thinking.aspx#inlineContentb465bc7c-f3c2-468c-8269-65c3236b6426

Vibrant businesses are constantly looking for new ways to deliver value. They monitor how our evolving culture changes what is expected; how new technologies change what is possible; and how existing expertise can be applied to other markets. They look for white spaces in the business ecosystem: opportunities that are just emerging and not yet clearly articulated.

Herman Miller followed this path and extended its office furniture brand into a new business category. Healthcare. By analyzing and understanding patient and caregiver needs, they transformed the feel and functionality of the hospital room and captured new market share in the process.

Design thinking helps uncover business innovation.

So there, MBAs! Now you know! :)))

White Spaces (in the business ecosystem)  ---> Business opportunities that are just emerging, but not yet clearly articulated.

No comments: