blue ocean strategy is a book published in 2004 written by w. chan kim and renée mauborgne, professors at insead,[1] and the name of the marketing theory detailed on the book. value innovation is necessarily the alignment of innovation with utility, price and cost positions. in blue oceans, competition is irrelevant because the rules of the game are waiting to be set. for example, “competing factors” in blue ocean strategy are similar to the definition of “finite and infinite dimensions” in funky business.
blue ocean strategy, on the other hand, is based on the view that market boundaries and industry structure are not given and can be reconstructed by the actions and beliefs of industry players. working with consultants from the mac group (a consulting company that was later bought by capgemini), he developed strategy tools leading to the publication of a series of articles in the harvard business review, and then in 2005 of the blue ocean strategy book. [23] blue ocean strategy won the thinkers50 2011 strategy award for best business book of the decade and in the same year, it was introduced to the fast company leadership hall of fame. [52] the blue ocean/red ocean analogy is a powerful and memorable metaphor, which is responsible for its popularity. [citation needed] many of the book’s key concepts were previously covered in competing for the future by gary hamel and c.k.
based on an eponymously titled book, this strategy argues that “cutthroat competition results in nothing but a bloody red ocean of rivals fighting over a shrinking profit pool.” companies should instead look for new market space and ways to reinvent the industry. the goal of a blue ocean strategy is for organizations to find and develop “blue oceans” (uncontested, growing markets) and avoid “red oceans” (overdeveloped, saturated markets). here are key points of the blue ocean strategy: most likely, your organization is already running on an existing strategic planning model. luckily, the blue ocean strategy can be paired with other models. think of the blue ocean strategy as a way to open up opportunities and markets for a new organization, or an existing organization looking to grow.
when you begin your strategic planning, recognizing the difference between a red and blue ocean may not be as easy as the colors would indicate. use the above checklist as a guide through the process and hold internal brainstorming sessions for each point. these were the general questions we discussed and answered in order to highlight our blue ocean opportunities. but no other company offers all of the necessary features for strategy reporting in one place. by defining and seeing examples of the blue ocean strategy, your organization can learn how to execute on this strategic planning model and successfully reconstruct your market.
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blue ocean strategy is the simultaneous pursuit of differentiation and low cost to open up a new market space and create new demand. it is about creating and capturing uncontested market space, thereby making the competition irrelevant. definition: ‘blue ocean strategy is referred to a market for a product where there is no competition or very less competition. this strategy revolves around creators of blue ocean companies do not use competitors as their benchmarks. they focus on offering the highest possible value and quality to, blue ocean strategy pdf, what confuses me about blue ocean strategy, importance of blue ocean strategy, blue ocean strategy vs red ocean strategy, red ocean strategy examples, blue ocean strategy book, blue ocean strategy summary, blue ocean market, blue ocean examples, red ocean strategy pdf. what is blue ocean strategy example? what are the 4 strategies of blue ocean strategy? how do you make a blue ocean strategy? what companies have used a blue ocean strategy?
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