It posits that creating a new market can be more beneficial than competing in an existing market with established competitors. Chan kim and renee mauborgne, the writers of the 2005 book blue ocean strategy. Blue ocean is a slang term for the uncontested market space for an unknown industry or innovation. This creates a new product offering that doesnt currently exist. Blue ocean strategy is the most successful book on business masterplanning the economist featured on more than 300 bestseller lists across the globe thinkers50 strategy award for best business book of the decade. Apr 03, 2020 in short you need to create your own blue ocean strategy. The authors argue that lasting success comes not from battling competitors but from creating blue oceans untapped new market spaces ripe for growth. May 30, 2017 t his month, we read blue ocean strategy by w.
Although some blue oceans are created well beyond existing industry. Made by group d of the minor global trendwatching 2015. Business strategy the blue ocean strategic concept was developed by profs. In short, you create a blue ocean by focusing on the factors that customers really care about, while discarding factors they dont. The latest revised version of the book was published in 2015. Their book teaches readers how to create uncontested markets for. May 31, 2016 in this book summary of blue ocean strategy, well outline the key concepts, tools and tips from the book to help you create uncontested market space and make your competition totally irrelevant. The red ocean traps you have to avoid if you want business growth. His book blue ocean strategy, coauthored with renee mauborgne, has sold 3. 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. A global bestseller and one of the best business strategy books available, blue ocean strategy challenges everything you thought you knew about strategic. 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.
Sep 26, 2016 but only time would prove whether or not they had created a new way to look at strategy or simply repackaged existing techniques and processes. Why some businesses succeed in creating blue oceans, and why others fail. 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. Heres what youll find in our full blue ocean strategy summary. May 27, 2014 for that there is nothing better than something called the blue ocean strategy. While this came in appendix a in the book, this is a good time to cover three industries with repeated blue ocean creation. In red oceans, business leaders and entrepreneurs are in a cage of creating competitive strategies as dominant business thinking. Achieved via the delivery of features that have a highest marginal benefit to customer needs. The global phenomenon, embraced by business worldwide and. 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. There are two types of oceans in this world, according to authors w.
Blue ocean strategy is a marketing theory and the title of a book published in 2004 that was written by w. Chan kim and renee mauborgne in the indie business book club. Based on a study of 150 strategic moves spanning more than 100 years across 30 industries, the authors argue that lasting success comes not from battling competitors but from creating blue oceansuntapped new market. The book offers a fivestep process for systematically reproducing such strategic triumphs, and shows how a blue ocean initiative can be successfully launched in. A blue ocean is an analogy to describe the wider, deeper potential to be found in unexplored market space. Jan 20, 2015 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. Blue ocean strategy presents a systematic approach to making the competition irrelevant and outlines principles and tools any company can use. 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. 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.
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 2010, polish group thinktank selected blue ocean strategy as one of the top 20 books that have shaped polish leaders. Whatever your business our advanced marketing technology and blue oceans strategy marketing experts will craft a custom blue ocean marketing strategy that will instantly empower you to eliminate your competition and render them irrelevant. With this groundbreaking book, kim and mauborgneboth professors at frances insead, the second largest business school in the worldaim to repair that bias. Blue oceans, in contrast, are defined by untapped market space, demand creation, and the opportunity for highly profitable growth. The database and research have continued to expand and grow over the last ten years since the first edition of the book was published and. Navigate blue oceans to undiscovered business opportunities. Chan kim and renee mauborgne in their book titled blue ocean strategy. May 26, 2015 summary of the first four chapters of the international bestseller blue ocean strategy. Chan kim and renee mauborgne in their book blue ocean. It 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. The first part presents key concepts of blue ocean strategy, including value. A landmark work that upends traditional thinking about strategy, this bestselling business book charts a bold new path to winning the future. The insead blue ocean strategy institute is dedicated to extending the research on blue ocean shift, blue ocean strategy, and blue ocean leadership by chan kim and renee mauborgne and disseminating it to professors, researchers and practitioners around the globe.
Summary of the first four chapters of the international bestseller blue ocean strategy. The metaphor defined in the book is that many companies compete with their rivals in bloody red oceans. Book blue ocean strategy how to survive in a red ocean. May 03, 2017 blue ocean strategy, create new markets and leave the competition behind renee mauborgne wobi duration. Learn the books critical concepts in 20 minutes or less. Jul 16, 2015 in this article, we will look at 1 what is a blue ocean strategy. The blue ocean strategy book debunks the popular notion that in order to win in business, we must beat the competition. Blue ocean strategy is the most successful book on business masterplanning. A global bestseller and one of the best business strategy books available, blue ocean strategy challenges everything you thought you knew about strategic success. Blue ocean strategy including examples and pdf download. The blue ocean strategy explains how to guide your business across seas with less competition and greater.
Chan kim is the codirector of the insead blue ocean strategy institute and a chair professor of strategy and international management at insead. Jul 15, 2014 blue ocean strategy, by renee mauborgne and w. In blue oceans, competition is irrelevant because the rules of the game are waiting to be set. Blue ocean strategy is the most successful book on business masterplanning in recent years. 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. Along with the complexity of implementing blue ocean strategy, there will be a great margin too. Blue ocean strategy is a bad book, but it is not your usual bad book. 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. For more on these authors and their new book, blue ocean shift, see. We have taken search engine optimization to a whole new level with a blue ocean strategy focus. Blue ocean strategy won the thinkers50 2011 strategy award for best business book of the decade and in the same year, it was introduced to the fast company leadership hall of fame. The real opportunity is to create blue oceans of uncontested market space. Chan kim harvard business school press, 2005, conceived of a new way for companies to drive profitable growth. The research focused on discovering the common factors that lead to the creation of blue oceans and the key differences that separate those winners from the mere survivors and those adrift in the red ocean.
They are rivaling head to head with their competition over the same consumer segments. What is the blue ocean strategy the term blue ocean was coined by two professors w. Certainly kim and mauborge deserve credits for having made the point of the overfocus on competitive advantage and also for their beautiful metaphor of the two types of oceans. What is blue ocean strategy about blue ocean strategy. Because of widespread access to information and resources today, it becomes too easy for businesses to enter an already established market. 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. Chan kim and renee maubourgne published a book, blue ocean strategy.
In the international bestseller blue ocean strategy, w. How to create uncontested market space and the make. The blue ocean strategy is a business book that has become mandatory for modern managers by proposing an organized structure to identify and implement differentiation in any industry and help you grow your business faster. 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. Instead of dividing up existingand often shrinkingdemand and benchmarking competitors, blue ocean strategy is about growing demand and breaking. Value innovation strategy competes in an uncontested market space. Hopefully, the authors will provide more specific tools to find, create, develop, exploit and protect blue oceans in their forthcoming book 2005. The economist a great read for any leader looking to get a.
Regarding blue ocean strategy and the authors of the book, writes. 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. Aug 16, 2018 reaching a blue ocean is a great option to draw attention and create a big name. Blue ocean strategy, expanded edition book depository.
It is being published in a recordbreaking 44 languages and is a w. Blue ocean strategy is the most successful book on business master. Blue ocean strategy is a book published in 2005 and written by w. Sep 24, 2017 blue ocean shift provides us with a comprehensive guide to enable any organization with the right mindset to launch and implement a blue ocean initiative. Blue ocean strategy pushes companies to create new industries and break away from the competition. 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. In blue oceans, demand is created rather than fought over. The central tenet of the blue ocean strategy is to create. How to create uncontested market space and make competition irrelevant. The authors of the book analyzed 108 companies, from both red and blue oceans. What blue oceans are, and how you create one for your business. Blue oceans, where a market space is new and uncontested, and strategy centers around value innovation.