In this way, it swam into a blue ocean, offering a plastic watch at a price that allowed people to purchase two or three watches at one time. Those who want to create a blue ocean strategy for their company must focus on value innovation that makes the competition irrelevant by the simultaneous pursuit of differentiation and low cost, thus creating a leap in value for the customers and an uncontested market space for the company. Chan kim born 1952 is a koreanborn business theorist, professors of strategy and management at insead, and codirector of the insead blue ocean strategy institute in fontainebleau, france. The premise of the book is that companies can succeed by creating. In their bestselling book, blue ocean strategy, authors w. Achieved via the delivery of features that have a highest marginal benefit to customer needs. Blue ocean strategy is a book published in 2005 and written by w. In a blue ocean because of the uniqueness of your offering you are able to service your customers in uncontested at least for now space. Blue ocean strategy including examples and pdf download.
Blue ocean strategy, expanded edition download free ebook. Essay on blue ocean strategy a marketing book 1053. The creation of blue oceans is about driving costs down while simultaneously driving value up for buyers. It is being published in a recordbreaking 44 languages and is a w. He is known as coauthor of the 2005 book blue ocean strategy. Rather than competing within the confines of the existing industry or. The book mostly borrows from a range of over 140 strategic marketing moves within a period of over a century.
Blue ocean strategy case study service nsw 3 1 introduction blue ocean strategy1 has been used extensively to transform the public sector around the world at a local, state and national level. The strategy canvas provides a highly visual tool to help look at future options. Reviewing the blue ocean strategy universiteit twente. Essay about blue ocean strategy 825 words bartleby. The on the blue ocean strategy essay 1969 words 8 pages. A lot has been written about it and i would have said practically everything had been said about it until i looked up the book on amazon to see the current price. Using blue ocean strategy to reduce new product failure. The blue ocean strategy bos is the strategic organizational approach that is based on the principle that companies should not engage in a. It is very important that each component of the sequence be in the same order as listed in order to successfully create a blue ocean for any company. This is the holy grail that marketers have been seeking since we began thinking about product differentiation, market segmentation, positioning, and all the. A landmark work that upends traditional thinking about strategy, this bestselling business book charts a bold new path to winning the future. There youll find all the resources you needfrom ideas in practice and cases from government and private industry, to teaching materials, mobile apps, realtime updates, and tips and tools to help you make your blue ocean journey a success. Read blue ocean strategy online, read in mobile or kindle.
This blog article takes a look at what kind of roi some companies have achieved by implementing a blue ocean strategy by w. Photograph, and the vietnam war summary of blue ocean strategy by w. What a company will do if it adopts a blue ocean strategy skills practiced making connections use understanding of the concept of a blue ocean strategy to identify its effects on a business. Instead of dividing up existingand often shrinkingdemand and benchmarking competitors, blue ocean strategy is about growing demand and breaking away from the. Instead of dividing up existingand often shrinkingdemand and benchmarking competitors, blue ocean strategy is about growing demand and breaking. Chan kim is the codirector of the insead blue ocean strategy institute and a chair professor of. Blue ocean shift is the essential followup to blue ocean strategy, the classic and over 4 million copy global bestseller by worldrenowned professors chan kim and renee mauborgne. How to create uncontested market space and make competition irrelevant, is a market space that is undeveloped, and untapped by competitors.
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. Blue ocean strategy is the bestselling book which launched a worldwide revolution in business strategy. Extreme openness is another blue ocean technique that buffer uses on their open blog. So powerful is blue ocean strategy, in fact, that a blue ocean strategic move can create brand equity that lasts for decades. Value innovation strategy competes in an uncontested market space. How to create uncontested market space and make the competition irrelevant kindle edition by kim, w. Blue ocean strategy is a marketing theory and the title of a book published in 2004 that was written by w. Blue ocean strategy presents a systematic approach to making the competition irrelevant and outlines principles and tools any organization can use to create and capture their own blue oceans. To create a blue ocean strategy company there has to be. This was a blue ocean opportunity staring them in the face.
All in all, blue ocean strategy is a book worth reading. Furthermore the blue ocean strategy was awarded with. Although there is an inevitability to having to compete in crowded markets, there are too many advantages to avoiding this situation to ignore the possibility of looking for blue space. Read blue ocean strategy, expanded edition how to create uncontested market space and make the competition irrelevant by w. The fundamental premise of the blue ocean strategy is that as opposed to continuing to compete in the red ocean, you should try to find new space in which to sell your goods and services. This international bestselling book sold more than a million copies in its first year of publication, and has. 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. To learn more about the power of blue ocean strategy, visit blueoceanstrategy. It is being published in a recordbreaking 44 languages and is a bestseller across five continents. Blue ocean strategy is a business strategy book, first published on february 3, 2005 by the harvard business school press. In this article you will learn how to make your competition irrelevant and have sales and profit growth in excess of anything you thought was even possible.
After reading you will understand the basics of this powerful strategy tool what is the blue ocean strategy. Challenging the conventional competition based approaches to business strategy, blue ocean. Chan kim and renee mauborgne 2006 blue ocean strategy has been described as a must read for all business students. It reduced costs by using plastic instead of metal, for example, and reducing the parts in each watch from 150 to 50. The buffer blog has exposed a blue ocean strategy by harnessing acumen for research and compiling data. Blue ocean strategy how to create uncontested market space and make the competition irrelevant boston. Blue ocean strategy how to create uncontested market.
Drawing on more than a decade of new research, blue ocean shift is the definitive guide to help you move beyond competing, inspire your peoples confidence, and seize new growth. Based on a study of 150 strategic moves spanning more than 100 years and 30. This article explains the blue ocean strategy, developed by w. Blue ocean strategy is the most successful book on business masterplanning the economist a great read for any leader looking to get a real edge in business and establish a real competitive advantage in the market. In an audiobook that challenges everything you thought you knew, w. Blue ocean strategy blue ocean strategy introduction blue ocean strategy is a marketing book by w. Blue ocean strategy is a bad book, but it is not your usual bad book.
Very few businesses reach the transparency level that buffer openly embraces. Blue oceans strategy is the approach that suggests a company is better off searching for ways to play in uncontested market places instead of engaging with competition in existing marketing spaces. 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. Value innovation is a new way of thinking about and executing strategy that results in the creation of a blue ocean. Use features like bookmarks, note taking and highlighting while reading blue ocean strategy, expanded edition.
Blue ocean strategy is a systematic approach to finding innovative, cost efficient, value adding, productmarket matches. The blue ocean strategy can be extremely rewarding, but can also be the most work intensive. You may or may not agree with the central philosophy, but you will be inspired. Inside business 360,united states if you are still wondering whether to pick up a copy of blue ocean strategy, we hope this article will convince you. The blue ocean strategy book defines red oceans as those which already contain a high level of competition. Blue ocean strategy displays an orderly way to deal with making the challenge unessential and traces standards and instruments any organization can use to make and catch their blue seas. It is the idea of trying to find market spaces that are free of competitors by creating and caputuring new demand. The blue ocean strategy works to create an untapped marketplace outside of the traditional market boundaries. Recognized as one of the most iconic and impactful strategy books ever written, blue ocean strategy, now updated with fresh content from the authors, argues that cutthroat competition results in nothing but a bloody red ocean of rivals fighting over a shrinking profit pool. Chan kim and renee mauborgne assert that tomorrows leading companies will succeed, not by battling their rivals for market share in the bloody red ocean of a shrinking profit pool, but by creating blue oceans of untapped new market spaces ripe for growth. Summary of the first four chapters of the international bestseller blue ocean strategy. The blue ocean strategy book has been sold over 3,5 million times, was published in 43 languages and is a bestseller across five continents. This blog article is a overview of some of the key points of the book by w.
Most prominently, since 2009 the malaysian government has implemented a national blue ocean strategy to lift the living standard of the country and to. How to create uncontested market space and make the competition irrelevant pdf by w. Value innovation value innovation places equal emphasis on value and innovation. Made by group d of the minor global trendwatching 2015. 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. Pdf blue ocean strategy download full pdf book download. Download blue ocean strategy ebook free in pdf and epub format. Blue ocean strategy generally refers to the creation by a company of a new, uncontested market space that makes competitors irrelevant and that creates new consumer value often while decreasing costs. 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. The book succeeds in showing how businesses, can outdo their competitors.
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