high performance. The real opportunity is to create blue oceans of uncontested market space. Blue Ocean Strategy. W. Chan Kim · Renee Mauborgne. Blue Ocean Strategy is a marketing theory from a book published in which was written by W. Chan Kim and Renée Mauborgne, professors at INSEAD. Blue Ocean Strategy has ratings and reviews. Hal said: The Renée Mauborgne (Goodreads Author) . W. Chan Kim and Renée Mauborgne.
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This is a very good book. InNintendo released the Wiiwhich used unique motion controls. Here, cost and value are seen as trade-offs and a firm chooses a distinctive cost or differentiation position. Want to Read saving….
Identify pain points of your product and eliminate them through a complementary product. I’m not saying that their strategy is wrong, but perhaps I’d be iim convinced of it if there were a company who successfully followed their method.
Blue ocean is an analogy to describe the wider, deeper potential of market space that is not yet explored.
And is there a common theme with Porter’s 5 competitive forces that shape strategy? See which factors you should eliminate, create, change. Value innovation is necessarily the alignment of innovation with utility, price and cost positions.
Blue Ocean Strategy: How to Create Uncontested Market Space and Make the Competition Irrelevant
The book is fairly dry, and not especially engaging. The new chapters in the expanded edition of the book deal with the issues of how to develop and align the three strategy propositions of value, profit and people, how to sustain and renew blue ocean strategy at both the business level and the corporate level, and how to avoid red ocean traps that keep organizations anchored in existing market space even as they attempt to create new market space.
They defined this success as a significant drop in crime in the City of New York after Bratton took office in There are some helpful tables and graphs. While Kim and Mauborgne propose approaches to finding uncontested market space, at the present there are few success stories of companies that have actively applied their theories. Although some of the suggestions strike me as too esoteric to prove useful in a real business, the majority are simple, straight-forward, and can be utilized as useful thought experiments if nothing else.
Many of these tools are also used by Six Sigma practitioners and proposed by other management theorists. But head-to-head competition has its own limitation. Nintendo revealed their Blue Ocean Strategy during an E3 press conference during the hype build-up of the Wii. Draw your “to be” strategy canvas based on insights from field observations.
I remember as a child asking my dad why I should pick up skiing over snowboarding. Which of the factors that the industry takes for granted should be eliminated? A strategic move is the set of managerial actions and decisions involved in making a major market-creating business offering.
However, the book provides details into Southwest’s underlying business strategies that may cjan be well known. Some examples of companies that may have created new market spaces in the opinion of Kim and Mauborgne include: This is a classic business book about creating new markets rather than competing in existing markets.
Blue Ocean Strategy – Wikipedia
He also serves as an advisor to several countries. Please add a reason or a talk parameter to this template to explain the issue with the article.
Good young skiers, however, were few and far between. Observe the distinctive advantages of alternative products and services. So it is not just execution that is missing. The book was recommended by members of the uGurus Mastermind and in Zag: To win big, you need to develop the Blue Ocean Strategy, bu looking into unexplored market. Kind of a stupid book. Goodreads helps you keep track of books you want to read. Seek key commonalities in what buyers value, rather than trying to embrace customer differences through finer customization and segmentation.
Some reviewers accuse it of nitpicking evidences, but business is already a tricky area for scientific exactness: Red oceans represent all the industries in existence today — the known market space. But I like its insights. Reconstruct Market Boundaries 6 Paths Framework to breaking out of market boundaries 1.
Focus on key factors that lead buyers to trade across alternative industries products and services with different functions and forms but same purpose. The strategic move must raise and create value for ovean market, while simultaneously reducing or eliminating features or services that are less valued by the current or future market.