The economist a great read for any leader looking to get a real edge in business and. Blue ocean strategy how to create uncontested market space and make the competition irrelevant w. Blue ocean strategy is referred to a market for a product where there is no competition or very less competition. Blue ocean strategy is a book published in 2005 and written by w. Chan kim and renee mauborgne, professors at insead and codirectors of the insead blue ocean strategy institute. First published in 2005, it was updated and expanded with fresh content in 2015. The goal of a blue ocean strategy is for organizations to find and develop blue oceans uncontested, growing markets and avoid red oceans overdeveloped, saturated markets. To reach the next level in your career, it is helpful to learn from those who have proven it can be done. Apple observed the flood of illegal music file sharing that began in the late 1990s, enabled by file sharing programs such as napster, kazaa, and limewire. But, lets first understand what is blue ocean and how it is different from red ocean strategy. What is the blue ocean strategy the term blue ocean was coined by two professors w. Value innovation strategy competes in an uncontested market space.
Traditionally companies have engaged in a necktoneck race in a bid to attain profitable and sustainable growth. A landmark work that upends traditional thinking about strategy, this bestselling business book charts a bold new path to winning the futuremore. R eading books that are similar to the ones you love definitely helps in finding impactful books. Blue ocean strategy is the most successful book on business master. 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. We continue our leadership hall of fame series, a yearlong look at the top business books and authors, with an excerpt from blue. Blue ocean strategy business model blue ocean tools and. 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. Blue ocean strategy, the global phenomenon that has sold over 4 million copies and is recognized as one of the most iconic and impactful strategy books ever written, argues that cutthroat competition results in nothing but a bloody red ocean of rivals fighting over a shrinking profit pool. It is a marketing theory from the similarlynamed book that was published in 2005 and became a perennial bestseller.
To join the free indie business book club, click here. The blue ocean strategy argues that consumers dont have to choose between value and affordability. The blue ocean strategy simulation was designed with extensive input from the authors of the bestselling book blue ocean strategy. Blue ocean strategy is the 2015 update to the classic business strategy text of the same name originally published in 2005. A blue ocean is considered from a marketing standpoint an unexplored territory in an uncontested market space. Looking for the best business books like blue ocean strategy. A red ocean is created when lots of businesses are operating in the same market space, all pretty much doing the same thing. If a company can identify what consumers currently value and then rethink how to provide that value, differentiation and low cost can both be achieved. Chan kim and renee mauborgne in the indie business book club. Navigate blue oceans to undiscovered business opportunities.
So powerful is blue ocean strategy, in fact, that a blue ocean strategic move can create brand equity that lasts for decades. Dec 04, 2015 more than 150 fortune 500 ceos share their top business book recommendations for budding entrepreneurs. Blue ocean leadership is designed to be applied across the three distinct management levels. Qantas the australian way praise for blue ocean strategy. The business current operating status is cancelled nonrenewal and the business s principal activity is retail sale of books, newspapers and.
The database and research have continued to expand. This blog article is a overview of some of the key points of the book by w. The term blue ocean was coined by two professors w. 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. Ocean blue book store singapore business directory. 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. Blue ocean strategy at frances insead business school 1468 words 6 pages. The idea behind the blue ocean strategy is to move your business out of a red ocean market and into a blue ocean market. Chan kim and renee mauborgne strategy professors at frances insead business school, proved that in this sphere, games dont always have to be this bloody by conveying a world where companies profit and grow in a competition free. Based on a study of 150 strategic moves spanning more than 100 years across 30 industries, the authors argue that.
Based on a study of 150 strategic moves, spanning more than 100 years across 30 industries, the authors, chan kim and renee mauborgne show that lasting success comes not. 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 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. How to create uncontested market space and the make. The blue ocean strategy explains how to guide your business across seas with less competition and greater profitability. The text offers a practical handbook to business students and entrepreneurs who wish to rise above the fray of the competition, become pioneers in previously uncharted market territory, and gain access to impressive growth opportunities and an untapped customer base. Blue ocean strategy pushes companies to create new industries and break away from the competition. 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. Blue ocean strategy is a marketing theory in which a business enters a market that has little or no competition. One of the most successful efforts to do so is the book blue ocean strategy, by w. They are the authors of blue ocean strategy, which has sold over 3.
Blue ocean strategy is a business strategy book first published in 2005 and written by w. Your course participants will truly experience the power of blue ocean strategy by applying the theory and using the methodologies and tools described in the book. May 03, 2017 blue ocean strategy, create new markets and leave the competition behind renee mauborgne wobi duration. It is a roadmap to move you, your team, and your organization to new heights of confidence, market creation and growth. Based on a study of 150 strategic moves spanning more. Blue ocean strategy with boss business simulation stratx. In the international bestseller blue ocean strategy, w. Blue ocean strategy including examples and pdf download. In the decade since the publication of the first edition of our book, blue ocean. Named by fast company as one of the most influential leadership books in its leadership hall of fame.
Embraced by organizations and industries worldwide, blue ocean strategy is a global phenomenon that has sold over 4 million copies, is published in a recordbreaking 46 languages and is a bestseller across five continents. While this came in appendix a in the book, this is a good time to cover three industries with repeated blue ocean creation. This strategy revolves around searching for a business in which very few firms operate and where there is no pricing pressure. Are your employees engaged in moving your company forward. Blue ocean strategy is the most successful book on business masterplanning.
A company will have more success, fewer risks, and increased profits in a blue ocean market. Companies need to build their blue ocean strategy in the sequence of buyer utility, price, cost, and adoption. Blue ocean is a slang term for the uncontested market space for an unknown industry or innovation. We compiled this list of best business books like blue ocean strategy specifically for business professionals with little free time, who are interested in developing strong strategy and other business skills. Jul 16, 2015 in this article, we will look at 1 what is a blue ocean strategy. With the launch of itunes, apple unlocked a blue ocean of new market space in digital music that it has now dominated for more than a decade. Chan kim and renee mauborgne in their book blue ocean. Chan kim is the codirector of the insead blue ocean strategy institute and a chair professor of strategy and international management at insead. How is a blue ocean different from the usual business market. We try to carefully curate all of our reading lists and are confident that any business book on this page is worth your time. 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. Chan kim and renee mauborgne, professors at insead. 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 companys aim was to unlock a new market space in books by opening the.
Chan kim and renee mauborgne are professors of strategy at insead and codirectors of the insead blue ocean strategy institute. Written by the business worlds new gurus, blue ocean strategy continues to challenge everything you thought you knew about competing in todays crowded market place. The global phenomenon, embraced by business worldwide and. 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. It calls for profiles for leaders that are tailored to the very different. The address of the business s registered office is at the casa riviera building. A monopolist is expected to have a larger control over the investments, resources or licenses that the period of duration of a. 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.
Blue ocean strategy is based on over decadelong study of more than 150 strategic moves spanning more than 30 industries over 100 years. In short, you create a blue ocean by focusing on the factors that customers really care about, while discarding factors they dont. A blue ocean market is also similar to a monopoly market but the difference lies in the fact that most of the times a blue ocean can fade into a red ocean market as the entrants into the newly contested market fills up. 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. It draws on our research on blue ocean strategy, our model for creating new market. This allows them to build a viable business model and ensure that a company profits from the blue ocean it is creating. Chan kim and renee mauborgne in their book titled blue ocean strategy. Essay on blue ocean strategy a marketing book 1053 words. Blue ocean strategy is a marketing theory and the title of a book published in 2004 that was written by w. For more on these authors and their new book, blue ocean shift, see. Blue ocean is a slang term born in 2005 and continues to be used today. 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. A blue ocean, as used in the title of this book and strategy, is basically uncharted territory in the business world.
He is the coauthor, along with renee mauborgne, of the book blue ocean strategy. Now, 12 years later, the authors offer an exciting new book that synthesizes their experience in assisting with the implementation of blue ocean. Blue ocean strategy buy the book find it in your language 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. 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. All these businesses are targeting the same customers and market share. In this article, we will look at 1 what is a blue ocean strategy.
Blue ocean strategy is a bad book, but it is not your usual bad book. In this article you will learn how to make your competition irrelevant and have sales and profit. The book illustrates what the authors believe is the best organizational strategy to generate growth and profits. 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. 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. This creates a new product offering that doesnt currently exist. Aug 08, 2019 written by the business worlds new gurus, blue ocean strategy continues to challenge everything you thought you knew about competing in todays crowded market place. The real opportunity is to create blue oceans of uncontested market space. Chankim renee mauborgne harvard business school press boston, massachusetts fmkim. The strategy focuses on moving away from an existing market and seaching for new markets. In their book, kim and mauborgne wrote about 150 blue ocean strategies that have been undertaken by companies over about 100 years. Chan kim and renee mauborgne of the blue ocean strategy institute at insead. The rapid pace of innovation and change in recent years has led scholars and executives to search for an approach to strategy that is more dynamic than harvard professor michael porters classic five forces.
Achieved via the delivery of features that have a highest marginal benefit to customer needs. Blue ocean strategy can be applied across sectors or businesses. Chan kim and renee mauborgne rank in the top 5 management gurus in the world in the thinkers50 list, a title they have held for ten straight years, and are the recipients of numerous academic and management awards around the world. His book blue ocean strategy, coauthored with renee mauborgne, has sold 3. May 30, 2017 t his month, we read blue ocean strategy by w. 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.
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