Use features like bookmarks, note taking and highlighting while reading blue ocean strategy. Blue ocean strategy formulation the strategy canvas. Whats different between blue ocean shift and the other. Companies should instead look for new market space and ways to reinvent the industry.
Chan kim, of blue ocean strategy, expanded edition 2015. Identifying white space opportunities necessitates exploration into areas adjacent to but outside your traditional business boundaries. Blue ocean shift is the essential followup to blue ocean strategy, the classic 3. The blue ocean strategy simulation was designed with extensive input from the authors of the bestselling book blue ocean strategy. How to create uncontested market space and make the competition irrelevant. How to create uncontested market space and make competition irrelevant w. Unconventional approaches are required to uncover these high value opportunities and to convert them into attractive businesses. Chan kim and renee mauborgne in their book blue ocean.
How wawa seized new growth in the retail industry youtube. Blue ocean is a slang term for the uncontested market space for an unknown industry or innovation. In contrast to the blue ocean concept, described in the book blue ocean. Qantas the australian way praise for blue ocean strategy. It is a roadmap to move you, your team, and your organization to new heights of confidence, market creation and growth. Chan kim and renee maubogne, and illustrated with examples of game. Blue ocean strategy is quickly reaching must read status among smart business readers. Consider this your guide to creating uncontested market spaceand making the competition irrelevant. Hbr blue ocean strategy expanded edition national book store. How to create uncontested market space and make the. A landmark work that upends traditional thinking about strategy, this bestselling business book charts a bold new path to winning the future. Drawing on more than a decade of new work, kim and mauborgne show you how to move beyond competing, inspire your peoples confidence, and seize new growth, guiding you step by step through how to take your organization. How to create uncontested market space and make the competition irrelevant book online at best prices in india on. 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.
Chan kim, the mastermind behind the blockbuster book, blue ocean strategy. How big this gap or white space is, usually, determined by the confluence of these markets at a given time. Since 2007, she has conducted over 400 workshops and speeches and worked with dozens of clients on their blue ocean. It defines the business model slightly different from the two books above. In todays environment most firms operate under intense competition and try to do everything to gain market share. 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. Working with many blue chip companies, his client list includes lg, td.
Seizing the white space the business model database. How to create uncontested market space and make competition irrelevant. Blue ocean strategy is where a company creates a completely new market space or market category. 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. Creating new market space requires a different pattern of strategic thinking. Blue green red and purple ocean strategy slideshare. Do you have a message you want to share with the world. This new market space is created by launching new offerings, with the aim being to make the competition irrelevant so that an organization can grow, uncontested, at least in the beginning. Dont make these mistakes when entering a new market. In this article you will learn how to make your competition irrelevant and have sales and profit. The strategy canvas outlined in the book is basically a tool to visually show how a company will or has created a blue ocean strategy. Chan kim and renee mauborgne 2006 blue ocean strategy has been described as a must read for all business students.
The signaltonoise ratio of business books generally tends towards zero. To understand red ocean strategy let us begin by defining blue ocean strategy. White space mapping seeing the future beyond the core. A landmark work that upends traditional thinking about strategy, this book charts a bold new path to winning the future.
To coin my own term, im calling these green prairies as it seemed a color describing a large space was necessary. How to create uncontested market space and make competition irrelevant, is a market space that is undeveloped, and untapped by competitors. This blog article is a overview of some of the key points of the book by w. 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. It is used to plot how the current competitors compete in a market space, what factors they compete on and how your company and the competition scores on each key factor. This is the genius of going after what experts will call white space or pursuing blue ocean strategies. Blue ocean strategy including examples and pdf download.
Blue ocean strategy can be applied across sectors or businesses. A must read strategy book for entrepreneurs and practitioners, the blue ocean strategy has stood the test of time. How wawa seized new growth in the retail industry blue ocean strategy. But our research shows the future is on how to create. How to create uncontested market space and make competi. My father does it for 3045 minutes a day as does my mom.
Blue ocean strategy with boss business simulation stratx. Blue ocean strategy, expanded edition book depository. In other words, a blue ocean is a new, uncontested market space where the existing competition is irrelevant. Blue ocean strategy is a marketing theory and the title of a book published in 2004 that was. Instead of dividing up existingand often shrinkingdemand and benchmarking competitors, blue ocean strategy is about growing demand and breaking away from the. Download it once and read it on your kindle device, pc, phones or tablets. 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. What is blue ocean strategy about blue ocean strategy. Our general manager sally haldorson led our search for the five best books on.
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. Rather than starting from a completely blank slate and attempting to design a. Business model innovation for growth and renewal 9781422124819. 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. In 2006, we launched the first creative meeting space in cincinnati. Of the many strategic planning models that exist, the blue ocean strategy could be considered the pacifist of the group. According to kim and mauborgne, in italics blue ocean strategy end italics challenges companies to break out of the red ocean of bloody competition by creating uncontested market space that makes the competition irrelevant. In contrast, blue ocean strategy creates new market spaces, creates new demand, and leads to profitable growth. 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. We understood and met the need for corporate innovative space. In the space of 25 days, participants will learn to apply the blue ocean strategy by breaking away from the competition and creating a blue ocean of new market space. The short of it is that my parents are addicted to it. Blue oceans blue oceans refers to undefined market space, demand creation, opportunity for highly profitable growth most are created from within red oceans by expanding existing industry boundaries rules of game waiting to be set competition irrelevant blue ocean strategy is a marketcreating strategy. We saw a wide open market, what is sometimes called a white space, blue ocean, or greenfield market.
White space is a book for those who often end on the weird sides of tumblryou tube and stay there for an hour or two. Here, heidi walker interior design blends pale shades of blue with antique white. These new spaces are described as blue oceans, compared to the. 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. But, lets first understand what is blue ocean and how it is different from red ocean strategy. Chan kim and renee mauborgne, professors at insead. Most of the time im confused because she loves her mind tricks. The result is a casual space brimming with coastal style. The large chains of mall bookstores were engaged in intense competition, and the small, independent bookstore. Instead of dividing up existingand often shrinkingdemand and benchmarking competitors, blue ocean strategy is about growing demand and breaking. In 2010, polish group thinktank selected blue ocean strategy as one of the top 20 books that have shaped polish leaders.
A mermaidinspired backsplash in various ocean hues gives this white kitchen by interior designer michelle gage a nautical feel. Here, the market structure is yet to be decided, so the price competition is far less intense. When people talk about exploring white space in innovation, they are often referring. Blue ocean facilities is a unique offsite meeting space designed to foster a creative environment that inspires productivity. 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 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. In todays environment most firms operate under intense competition and. This breakthrough work provides insights on how to take advantage of white spaces in the marketplace and compete against noncompetition. In other words, a blue ocean is a new, uncontested market space. He is the author of four business books many of which have been.
Strategy canvas is highlighted in the book blue ocean strategy, written by w. Sleepy berry long sleeved tee made to order from 36. How to create uncontested market space and make the competition irrelevant, a book by professors w. 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. And what we have been lacking is a roadmap to get there with tools and guidance anyone can apply. Chan kim and renee maubogne, and illustrated with examples of game changing strategies by companies liked curves and yellow tail. This tool visually displays the strategies of firms in a market space, making it possible for the user to identify radically different strategies that may create new value for customers. How to create uncontested market space and make the competition irrelevant kindle edition by kim, w. How to create uncontested market space and make the competition irrelevant w. Idris mootee of idea couture takes a look at white space mapping, a tool for. Blue ocean strategy is a bad book, but it is not your usual bad book. Blue ocean strategy is a marketing theory and the title of a book published in 2004 that was written by w.