Blue Ocean Strategy: Not solely for the living

Blue Ocean Strategy: Not solely for the living

“There’s no such thing as a permanently great company or a permanently great industry. All industries rise and fall as do companies. However, there are permanently smart strategic moves” - W. Chan Kim & Renee Mauborgne, from Chief Executive Magazine article “Flouting Conventional Wisdom” (May 2003).

We recently came across another example of how industry movers and shakers are defying conventional wisdom through Blue Ocean Strategy-like thinking to break away from the competition, truly differentiate themselves and make a sizeable boost in profits as a result.

The story highlights the journey of two brothers, Mark and Jeff Musgrove, who took over the family's Eugene, Oregon, funeral home in the mid-1990s:

They knew a radical break with the past was crucial to Musgrove Family Mortuary's survival. Families were requesting fewer traditional funerals and more no-frills cremations—which meant the chapel their father had built back in the 1960s was standing empty half the time.

The brothers began converting their funeral home and chapel into a multipurpose ‘family center,’ complete with kitchen facilities, flower room and large screen for multimedia presentations, in a move which defies conventional wisdom. The brothers are now poised to host a multitude of events at their family center, from weddings to business meetings, and, yes, funerals. Translation: The facility will no longer stand empty half of the time. Additionally, the brothers’ strategic shift will allow them to sell an increasing number of complimentary products and services—such as event planning.

Do you have a similar example which demonstrates how Blue Oceans are being created by those defying conventional industry wisdom? We invite you to share your story by getting in touch with us at the email address in the upper left-hand corner.