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. The real opportunity is to create blue oceans of uncontested market space. A company will have more success, fewer risks, and increased profits in a blue ocean market. But, lets first understand what is blue ocean and how it is different from red ocean strategy. 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. 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. Qantas the australian way praise for blue ocean strategy. Blue ocean strategy is a bad book, but it is not your usual bad book. Are your employees engaged in moving your company forward. Essay on blue ocean strategy a marketing book 1053 words. First published in 2005, it was updated and expanded with fresh content in 2015. The economist a great read for any leader looking to get a real edge in business and.
Blue ocean strategy with boss business simulation stratx. How to create uncontested market space and make the competition irrelevant, w. 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. It is a marketing theory from the similarlynamed book that was published in 2005 and became a perennial bestseller. 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. 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. Blue ocean strategy is the 2015 update to the classic business strategy text of the same name originally published in 2005. Blue ocean strategy is based on over decadelong study of more than 150 strategic moves spanning more than 30 industries over 100 years. A monopolist is expected to have a larger control over the investments, resources or licenses that the period of duration of a. The global phenomenon, embraced by business worldwide and. 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. The blue ocean strategy argues that consumers dont have to choose between value and affordability. One of the most successful efforts to do so is the book blue ocean strategy, by w. 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.
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. 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. The book illustrates what the authors believe is the best organizational strategy to generate growth and profits. In this article you will learn how to make your competition irrelevant and have sales and profit. May 03, 2017 blue ocean strategy, create new markets and leave the competition behind renee mauborgne wobi duration. 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. It is a roadmap to move you, your team, and your organization to new heights of confidence, market creation and growth. He is the coauthor, along with renee mauborgne, of the book blue ocean strategy. 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.
This creates a new product offering that doesnt currently exist. The blue ocean strategy explains how to guide your business across seas with less competition and greater profitability. 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. Now, 12 years later, the authors offer an exciting new book that synthesizes their experience in assisting with the implementation of blue ocean. 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. It calls for profiles for leaders that are tailored to the very different. 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.
The address of the business s registered office is at the casa riviera building. A landmark work that upends traditional thinking about strategy, this bestselling business book charts a bold new path to winning the futuremore. Chan kim and renee mauborgne are professors of strategy at insead and codirectors of the insead blue ocean strategy institute. Chan kim and renee mauborgne in their book blue ocean. 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. While this came in appendix a in the book, this is a good time to cover three industries with repeated blue ocean creation. Chan kim and renee mauborgne, professors at insead.
Looking for the best business books like blue ocean strategy. 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 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. In short, you create a blue ocean by focusing on the factors that customers really care about, while discarding factors they dont. Blue ocean is a slang term for the uncontested market space for an unknown industry or innovation. Companies need to build their blue ocean strategy in the sequence of buyer utility, price, cost, and adoption. To reach the next level in your career, it is helpful to learn from those who have proven it can be done. Blue ocean is a slang term born in 2005 and continues to be used today.
For more on these authors and their new book, blue ocean shift, see. Blue ocean strategy is a marketing theory in which a business enters a market that has little or no competition. 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. Navigate blue oceans to undiscovered business opportunities. Chan kim and renee mauborgne, professors at insead and codirectors of the insead blue ocean strategy institute. Chan kim and renee mauborgne in their book titled blue ocean strategy. How to create uncontested market space and the make. Achieved via the delivery of features that have a highest marginal benefit to customer needs. The idea behind the blue ocean strategy is to move your business out of a red ocean market and into a blue ocean market.
We continue our leadership hall of fame series, a yearlong look at the top business books and authors, with an excerpt from blue. Based on a study of 150 strategic moves spanning more. May 30, 2017 t his month, we read blue ocean strategy by w. Blue ocean strategy at frances insead business school 1468 words 6 pages. A blue ocean is considered from a marketing standpoint an unexplored territory in an uncontested market space. The database and research have continued to expand. Blue ocean strategy is the most successful book on business master. In their book, kim and mauborgne wrote about 150 blue ocean strategies that have been undertaken by companies over about 100 years. 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 the most successful book on business masterplanning. They are the authors of blue ocean strategy, which has sold over 3. In the decade since the publication of the first edition of our book, blue ocean. Blue ocean strategy can be applied across sectors or businesses.
The term blue ocean was coined by two professors w. Value innovation strategy competes in an uncontested market space. The first part presents key concepts of blue ocean strategy, including value. This blog article is a overview of some of the key points of the book by w.
The blue ocean strategy simulation was designed with extensive input from the authors of the bestselling book blue ocean strategy. Blue ocean strategy business model blue ocean tools and. What is blue ocean strategy about blue ocean strategy. To join the free indie business book club, click here. Blue ocean strategy is a business strategy book first published in 2005 and written by w. How is a blue ocean different from the usual business market. A blue ocean, as used in the title of this book and strategy, is basically uncharted territory in the business world. 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. 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. Chan kim and renee mauborgne in the indie business book club. 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. The strategy focuses on moving away from an existing market and seaching for new markets. Based on a study of 150 strategic moves spanning more than 100 years across 30 industries, the authors argue that. Blue ocean strategy including examples and pdf download.
Blue ocean leadership is designed to be applied across the three distinct management levels. 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. It is generally acknowledged that the title, blue ocean strategy, sounds very appealing. Jul 16, 2015 in this article, we will look at 1 what is a blue ocean strategy. Blue ocean strategy is a marketing theory and the title of a book published in 2004 that was written by w. Chankim renee mauborgne harvard business school press boston, massachusetts fmkim. This strategy revolves around searching for a business in which very few firms operate and where there is no pricing pressure.
R eading books that are similar to the ones you love definitely helps in finding impactful books. A red ocean is created when lots of businesses are operating in the same market space, all pretty much doing the same thing. Sep 12, 2000 ocean blue book store the business is a sole proprietor, incorporated on 12 september 2000 tuesday in singapore. Traditionally companies have engaged in a necktoneck race in a bid to attain profitable and sustainable growth. Blue ocean strategy, expanded edition book depository. 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. Chan kim is the codirector of the insead blue ocean strategy institute and a chair professor of strategy and international management at insead. While the book is aimed primarily at large, traditional businesses, our book club members managed to. Blue ocean strategy is a book published in 2005 and written by w. Ocean blue book store singapore business directory. 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. This allows them to build a viable business model and ensure that a company profits from the blue ocean it is creating. What is the blue ocean strategy the term blue ocean was coined by two professors w. Blue ocean strategy is referred to a market for a product where there is no competition or very less competition.
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. Blue ocean strategy pushes companies to create new industries and break away from the competition. Chan kim and renee mauborgne of the blue ocean strategy institute at insead. Aug 16, 2018 if you are a part of the business community, you might be familiar with the concept of blue ocean strategy. 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. 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. The business current operating status is cancelled nonrenewal and the business s principal activity is retail sale of books, newspapers and. In this article, we will look at 1 what is a blue ocean strategy. 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. Dec 04, 2015 more than 150 fortune 500 ceos share their top business book recommendations for budding entrepreneurs. His book blue ocean strategy, coauthored with renee mauborgne, has sold 3. The book the origin of the terms red and blue oceans comes from blue ocean strategy how to create uncontested market space and make the competition irrelevant. We try to carefully curate all of our reading lists and are confident that any business book on this page is worth your time.
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 the international bestseller blue ocean strategy, w. 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. So powerful is blue ocean strategy, in fact, that a blue ocean strategic move can create brand equity that lasts for decades. 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. All these businesses are targeting the same customers and market share. 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. The companys aim was to unlock a new market space in books by opening the. Named by fast company as one of the most influential leadership books in its leadership hall of fame.
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