Achieved via the delivery of features that have a highest marginal benefit to customer needs. Blue ocean idea index boi other companies companies should build their blue ocean strategy in the sequence of utility, price, cost, and adoption, these criteria form an integral whole to ensure commercial success. 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. It is being published in a recordbreaking 44 languages and is a w. Chan kim is the codirector of the insead blue ocean strategy institute and a chair professor of. The first part presents key concepts of blue ocean strategy, including value innovation the. Use features like bookmarks, note taking and highlighting while reading blue ocean strategy, expanded edition.
Instead of fighting headon with your competitors, how do you create uncontested market space and make the competition totally irrelevant. Find all the books, read about the author, and more. How to create uncontested market space and make the competition irrelevant. Essay on blue ocean strategy a marketing book 1053. What is blue ocean strategy about blue ocean strategy. It is based on the view that market boundaries and industry structure are not a given and can be. 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. This blog article is a overview of some of the key points of the book by w. How to create uncontested market space and make the competition irrelevant audiobook by w.
How to create uncontested market space and make the competition irrelevant by w. Blue ocean strategy is a collection of wisdom, systematic process and framework which were formulated after extensive management research and studies of companies that exhibit characteristics of certain management principles that help these compa. A blue ocean, as used in the title of this book and strategy, is basically uncharted territory in the business world. Whether you are a cashstrapped startup, nonprofit or a large, established company with bureaucratic obstacles, blue ocean shift shows you how to build your peoples confidence and move from existing markets crowded with competition or red oceans full of sharks to blue oceans of new market space and explosive growth by applying a systematic five.
Blue ocean strategy including examples and pdf download. A landmark work that upends traditional thinking about strategy, this bestselling business book charts a bold new path to winning the future. Furthermore the blue ocean strategy was awarded with. Blue ocean strategy formulation the strategy canvas. How to create uncontested market space and make the competition irrelevant kindle edition by kim, w.
Beyond competing proven steps to inspire confidence and seize new growth this short summary is a snapshot of the five steps to making a blue ocean shift. The book succeeds in showing how businesses, can outdo their competitors. Outline the industry and get a good feel for its key attributes and the intensity of the competition. 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. What other products or services do customers use to achieve the same goal. Is the blue ocean strategy book really a new approach or. An introduction to blue ocean strategy mba knowledge base. 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. Follow the fivestep process to successfully shift from red oceans of. The strategy canvas provides a highly visual tool to help look at future options.
The blue ocean strategy can be extremely rewarding, but can also be the most work intensive. The authors stress that value and innovation must work together simultaneously in order to develop a blue ocean strategy. This framework addresses not only the analytic aspects behind the creation of blue ocean strategy but also the allimportant human aspects of how to bring an organization and its people on this journey with a willingness to execute these ideas in. How to create uncontested market space and make the competit. A global bestseller and one of the best business strategy books available, blue ocean strategy challenges everything you thought you knew about strategic. Blue ocean strategy red ocean strategy compete in existing market space beat the competition exploit existing demand make the valuecost tradeoff align the whole system of a firms activities with its strategic choices of differentiation or low cost focuses on adapting to external trends as they occur create uncontested market. To break from competition, a organization has to reconstruct the market boundary which is the first and foremost principle in creating blue ocean strategy. How to create uncontested market space and make competition irrelevant, is a market space that is undeveloped, and untapped by competitors. Pdf harvard business school press blue ocean strategy.
To create a blue ocean strategy, organizations must be committed to value innovation. In their bestselling book, blue ocean strategy, authors w. Blue ocean shift book proven steps to inspire confidence and. There are six basic approaches to reconstruct market boundaries, also. Blue ocean strategy is a powerful framework for finding new business opportunities.
Free shipping and pickup in store on eligible orders. This post defines blue ocean strategy and explores a few examples while pointing out the five main risks of pivoting in the search for a. Instead of dividing up existingand often shrinkingdemand and benchmarking competitors, blue ocean strategy is about growing demand and breaking. Buy the hardcover book blue ocean strategy, expanded edition. Chan kim is the codirector of the insead blue ocean strategy institute and a chair professor of strategy and international management at insead.
How to build a sustainable blue ocean insead knowledge. 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. Blue ocean strategy is the simultaneous pursuit of differentiation and low cost to open up a new market space and create new demand. Blue ocean strategy is based on the idea that every enterprise can achieve higher profit by creating new demand in noncompetitive market so called blue ocean. But its not always clear how to create a blue ocean strategy for yourself. Blue ocean strategy is a method of creating business strategy of the enterprise, which was described in a book by w. His book blue ocean strategy, coauthored with renee mauborgne, has sold 3. Consider alternatives that customers have for your product. Their book teaches readers how to create uncontested markets for. This is the holy grail that marketers have been seeking since we began thinking about product differentiation, market segmentation, positioning, and all the.
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. This blog article is part of a series on the book blue ocean strategy by w. Five steps to making a blue ocean shift blue ocean shift. Companies pursue blue ocean strategies to make competition irrelevant. Use features like bookmarks, note taking and highlighting while reading blue ocean shift. Beyond competing proven steps to inspire confidence and seize new growth hardcover september 26, 2017. The book mostly borrows from a range of over 140 strategic marketing moves within a period of over a century. It requires the right research, patience and focus. Blue ocean strategy is the bestselling book which launched a worldwide revolution in business strategy. All in all, blue ocean strategy is a book worth reading.
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. 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. Be sure to check out our book for detailed guidance on how to implement each step and use the tools, including what works and what doesnt, so you can achieve success. Beyond competing proven steps to inspire confidence and seize new growth kindle edition by kim, w. The blue ocean strategy works to create an untapped marketplace outside of the traditional market boundaries. Blue ocean strategy is a book published in 2005 and written by w. Chan kim and renee mauborgne, the writers of the 2005 book blue ocean strategy.
Blue ocean strategy is a marketing theory and the title of a book published in 2004 that was written by w. How to create uncontested market space and make the competition irrelevant unabridged by w chan kim, renee mauborgne isbn. The six paths framework in formulating blue ocean strategy. Chan kim and renee mauborgne in the indie business book club. Beyond competing proven steps to inspire confidence and seize new growth. 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. 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. Follow these five systematic steps so that you maximize the chances of hitting. There are two types of oceans in this world, according to authors w. 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. You may or may not agree with the central philosophy, but you will be inspired. Chan kim ebooks to read online or download in pdf or epub on your pc, tablet or mobile device. For that there is nothing better than something called the 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.
They are the authors of blue ocean strategy, which is recognized as one of the most iconic and impactful strategy books ever written. Blue ocean strategy can be found on amazon blue ocean strategy. The first step to creating blue ocean strategy is to find new ideas and redefine markets as theyre commonly understood. Five steps to making a blue ocean shift blue ocean strategy. Blue ocean strategy blue ocean strategy introduction blue ocean strategy is a marketing book by w. Download it once and read it on your kindle device, pc, phones or tablets. Everyday low prices and free delivery on eligible orders. It is being published in a recordbreaking 44 languages and is a bestseller across five continents. In this article you will learn how to make your competition irrelevant and have sales and profit. How to create uncontested market space and make the competition irrelevant from the worlds largest community of rea. 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. It is about creating and capturing uncontested market space, thereby making the competition irrelevant. How to create uncontested market space and make the competition irrelevant kim, w. Blue ocean strategy provides a systematic approach to break out of the red ocean of severe competition and make the competition irrelevant by reconstructing market boundaries to create a leap in value for both the company and its buyers.