Instead of dividing up existingand often shrinkingdemand and benchmarking competitors, blue ocean strategy is about growing demand and breaking. Recognized as one of the most iconic and impactful strategy books ever written, blue ocean strategy argues that cutthroat competition results in nothing but a bloody red ocean of rivals fighting over a shrinking profit pool. Blue ocean strategy blue ocean strategy introduction blue ocean strategy is a marketing book by w. The authors use the metaphor of the blue ocean as a direct contrast to red oceans. This blog article is a overview of some of the key points of the book by w. Before we dive into the buyer utility map, lets understand how it fits into blue ocean strategy. The mind map of blue ocean leadership insead knowledge. Beyond competing proven steps to inspire confidence and seize new growth provides useful roadmaps and case studies for innovators. In this method, some charts called map of strategy are used to measure different indicators of ones and others products and the above four analyses are used to provide a new design of products and services which can be satisfied. Blue ocean strategy presents a systematic approach to making the competition irrelevant and outlines principles and tools any company can use to create and capture their own blue oceans. Featured on more than 300 bestseller lists across the globe. Essay on blue ocean strategy a marketing book 1053 words. A clear mission statement describes the values and priorities of an organization.
What is blue ocean strategy about blue ocean strategy. Blue ocean strategy is a book published in 2005 and written by w. Blue ocean strategy katharina niciejewska, dimitar dimitrov. Download it once and read it on your kindle device, pc, phones or tablets.
Chan kim and renee mauborgne heres the strategy create new markets. How to create uncontested market space and make the competition irrelevant, a book by professors w. They are the authors of blue ocean strategy, which has sold over 3. Identify your job niche with the blue ocean strategy dummies. The basic principle of blue ocean strategy is to map out, in addition to the already known markets red oceans, the blue oceans. Blue ocean strategy powerpoint templates present better. Blue ocean strategy is a marketing theory and the title of a book published in 2004 that was written by w. Listen to these blue ocean donors very carefully with engaging, accepting respect 4. Themapstore united states highway wall map blue ocean. This concept will help the client find a value which is different as well as low cost. Jul 15, 2014 blue ocean strategy, by renee mauborgne and w. This article is about the combination of the blue ocean strategy together with a project management methodology with the objective to help small and medium companies to surpass the actual financial turmoil and tough competitiviness in the red ocean in order to find their own blue ocean. Thinkers50 strategy award for best business book of the decade.
Its a market strategy, with a whole new thinking that will attract a new group of customers that were traditionally noncustomers. While this came in appendix a in the book, this is a good time to cover three industries with repeated blue ocean creation. How to create uncontested market space and make the competition irrelevant kindle edition by kim, w. In the normal framework, competition is a zerosum g. Pdf blue ocean strategy download full pdf book download. Blue ocean strategy formulation the four principles of. The hallmarks of slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. Jun 08, 2007 profit model of blue ocean strategy 30. The tools offered by the blue ocean approach are useful such as the strategy canvas and errc framework, but irrespective of whether your ocean is blue, red or some other colour. It is a dangerous bad book because it takes some thinking to figure out why it is bad, despite its success, and despite the fact that its key metaphor of blue ocean vs. The book mostly borrows from a range of over 140 strategic marketing moves within a period of over a century.
May 30, 2017 t his month, we read blue ocean strategy by w. Strategy and thinking is not limited by preconceived barriers, and a shift happens from a focus on the supply side to a focus on the demand. Blue ocean strategy leverages the extensive experience, networks and contacts of its partners and associates located in hong kong, china mainland, south east asia, australia, canada and switzerland to conduct global readiness evaluation from product compliance to aftermarket support. How to use the blue ocean strategy to revitalize your blog. We at blue oceans strategy have made it simple to instantly create your own exclusive blue ocean strategy. Rather than competing within the confines of the existing industry or trying to steal customers from rivals bloody or red ocean strategy w. Developing a mission statement compels strategists to think about the nature and scope of present operations and to assess the potential attractiveness of future markets and activities. Black ocean strategy is not an alternative to r ed ocean, blue ocean and green ocean strategies but it is complementary to them as it supports the organization at times of disaster. Project scope project scope objectives 1 of 3 step 1 1. We have developed cutting edge technology called geoconquester that creates exclusive marketing niches that hypertarget your perfect client. A blue ocean strategy perforce represents a departure from the status quo, fair process is required to facilitate both strategy making and execution by mobilizing people for the voluntary cooperation needed to execute blue ocean strategy. Blue ocean strategy is a bad book, but it is not your usual bad book.
Overall, good book and i would recommend for other looking for a way to differentiate their services from their competitions. Sloane award for excellence in management consulting. Each industry underwent continuous upheaval, each time spurred by a blue ocean strategy that 1 reduced factors unimportant to buyers, 2 increased factors important to buyers, 3 expanded the market. Buyer utility map blue ocean strategy shortform blog. But many companies have done their homework and succeeded thanks to this strategy. Another free imindmap strategy mind map shared on biggerplate. Blue ocean strategy presents a systematic approach to making the competition irrelevant and outlines principles and tools any company can use to create and capture blue oceans. Blue ocean strategy formulation the four principles of strategy formation this blog article is a summary of the book by w. Chan kim born 1951 is a koreanborn business theorist and professor of strategy and management at insead. Selfmade billionaires ignore the distinction between blue oceans and red oceans. Chan kim and renee mauborgne in the indie business book club.
What is the blue ocean strategy the term blue ocean was coined by two professors w. Blue ocean strategy how to create uncontested market space. Blue ocean strategy seeks to make the competition irrelevant by creating a leap in value for both the company and its buyers. For many of the case studies, teaching notes are available. After many years of business consulting and statistical analysis of more than 160 companies, w. Blue ocean idea index the blue ocean idea index is a simple but robust test demonstrating how the sequence of utility, price, cost, and adoption form an integral whole to ensure commercial success through blue ocean strategy. These outline the processes of opening up new demand and of using strategy canvases to map your offering against other businesses. This blog article is part of a series on the book blue ocean strategy by w. Chan kim and renee mauborgne, professors at insead and codirectors of the insead blue ocean strategy institute.
Covering topics none of your competitors are touching. In their 2017 new york times bestselling book, blue ocean shift, kim and mauborgne share how to put these practical marketcreating tools into practice to move from red to blue oceans and to do so in a way that people own and drive the process. Now youve researched and vetted possible blue ocean strategies, youve batched the common pain points of noncustomers, and youre ready to figure out how to execute the strategy. My thought is that the blue ocean strategy is like the hedgehog concept from jim collins book good to great but gives a great tool strategy map to help determine exactly how to establish your strategy. Creating barriers in the value proposition, people and profit. A landmark work that upends traditional thinking about strategy, this bestselling business book charts a bold new path to winning the future. May, 2014 the blue ocean strategy is all about challenging the industry focus. While the book is aimed primarily at large, traditional businesses, our book club members managed to scale some of the advice to fit our needs. Blue ocean strategy 1st first edition hardcover 2005. In the last one year, bos india has successfully conducted various workshops and seminars in india and overseas and will continue to do so.
How to create uncontested market space and make the competition irrelevant. Level 15, nexxus building, 41 connaught road central, hong kong. Jul 16, 2014 top 10 management models for your business. Blue ocean strategy is a business strategy book, first published on february 3, 2005 by the harvard business school press. Chan kim is the codirector of the insead blue ocean strategy institute and a chair professor of strategy and international management at insead. Identify blue oceans by mapping your product portfolio. Create new market space with blue ocean studio youtube. Blue ocean strategy term pioneermigratorsettler pms map. Blue ocean strategy including examples and pdf download.
When companies are willing to challenge the functional emotional orientation of their industry, they often find new market space. These citations may not conform precisely to your selected citation style. The book succeeds in showing how businesses, can outdo their competitors. Blue ocean strategies promise to break the tradeoff between costs and willingness to pay. Were glad to share this mind map, which will help you to visualise the whole process. How to create uncontested market space and make the competition irrelevant is the 2015 update to the classic business strategy text of the same name originally published in 2005. The mind map of blue ocean leadership blue ocean strategy.
A landmark work that upends traditional thinking about strategy, this book charts a bold new path to winning the future. Use features like bookmarks, note taking and highlighting while reading blue ocean strategy. According to kim alternative appendix figure approach blue ocean strategy build a blue business model buyer group buyer utility buyer utility map called the visual cdi challenge circuses cirque du soleil companys strategy companys value curve competition irrelevant competitors complementors concentrate consider cost innovations create a blue. The book the origin of the terms red and blue oceans comes from blue ocean strategy how to create uncontested market space and make the competition irrelevant. Initial objective brand analysis, new brand, rebranding, advertising.
They assert that these strategic moves create a leap in value for the company, its buyers, and its employees while unlocking new demand and making the competition irrelevant. Chan kim and renee mauborgne are suggesting blue ocean strategy. Here are my 5 best tools to find your own blue ocean strategy. In this article, we will look at 1 what is a blue ocean strategy. The structure can be created or recreated by the steps taken by players in the market. Jul 16, 2015 the blue ocean strategy is a reconstructionist view of the market where no accepted boundaries or structure is present. In this article you will learn the plan they outline for how to make your competition irrelevant and have sales and profit growth in excess of anything you thought was even possible. Implementing the blue ocean strategy is, simply put, a gargantuan task. Chan kim and renee mauborgne in their best selling book blue ocean strategy. Blue ocean strategy case studies case studies in business. Until further notice, in response to covid19, ishare requesting and statewide library delivery are temporarily suspended, and ishare library materials will not be considered overdue. Blue ocean strategy challenges companies to break out of the red ocean of bloody competition by creating uncontested market space that makes the competition irrelevant.
Blue ocean strategy value innovation strategy canvas four actions framework errc grid six paths framework pioneer migrator settler map three tiers of noncustomers sequence of creating a blue ocean buyer utility map price corridor of the mass four hurdles to strategy execution tipping point leadership fair process. Instead of fighting headon with your competitors, how do you create uncontested market space and make the competition totally irrelevant. Refining your blue ocean strategy with helpful tools. This mind map considers the concepts of red and blue ocean strategy. The blue ocean strategy which we boiled down to four steps is all about considering new approaches to make your blog unique by. Milwaukee map service usa wall map united states map blue ocean style this united states map is portrayed in bright colors and a tasteful blue ocean presentation. Chan kim harvard business school press, 2005, conceived of a new way for companies to drive profitable growth. The blue ocean map is a tool that enables employees of a business or anyone to simply map, design, execute, and monitor a blue ocean strategy. Jun 23, 2007 blue ocean strategy method templates 1. Blue ocean strategy, business case studies in business models and business strategy cases, structured assignment,to be used alongwith case studies covering all the areas of business management. And fish for a blue ocean cluster of neighbors to serve and a red ocean strategy 1.
The value of having a blue ocean strategy is better understood when compared to a red ocean strategy. The canvas is a neat tool easy to use, easy to communicate, easy to remember. A blue ocean, as used in the title of this book and strategy, is basically uncharted territory in the business world. Blue ocean strategy proposes that businesses can have more success by creating a blue ocean, rather than trying to compete in the red ocean the traditional market space that is filled with feuding competitors. Chan kim and renee mauborgne, insead professors of strategy and codirectors of the insead blue ocean strategy institute november, 2014 visualising blue ocean leadership in comparison to conventional leadership practices will help you with implementation. Blue ocean strategy formulation the strategy canvas. If you are new to strategy, you should read a basic book first before coming to this book.
In this article you will learn how to make your competition irrelevant and have sales and profit. Chan kim and renee mauborgne in their book titled blue ocean strategy. Blue ocean strategy usually talks about creating a blue ocean for your business and creating barriers for other businesses to imitate. Please use this display as a guideline and modify as needed. There are four things you would learn specifically alignment barriers. Based on a study of 150 strategic moves spanning more than 100 years and 30 industries, blue ocean strategy addresses this question and provides a systematic approach to drafting and implementing your own blue ocean strategy. Blue ocean strategy is the most successful book on business masterplanning the economist. These blue oceans document new markets and new opportunities.
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