By creating this plot, you can find imbalances in your strategy, such as only raising and creating which leads to overengineering and trying to be the best or only eliminating and reducing which leads to mere price competition. In this presentation ill explain what blue ocean strategy is and how we can create one. Create here, the idea is to create new industry factors that can generate value and anew market and were not offered before. 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. Blue ocean strategy although economic conditions indicate the rising imperative of blue oceans, there is a general belief that the odds of success are lower when companies venture beyond existing industry space. Blue ocean strategy, the global phenomenon that has sold 3. The strategy can transform a current product or idea or create something total new. The sample paper on air asia blue ocean strategy familiarizes the reader with the topicrelated facts, theories and approaches.
Porters five forces model and blue ocean strategy kim. Blue ocean strategy on jet blue case study by neil k. A blue ocean, as used in the title of this book and strategy, is basically uncharted territory in the business world. How to create uncontested market space and make the competition irrelevant kindle edition by kim, w. The strategy canvas provides a highly visual tool to help look at future options. Blue ocean strategy strategic management psychological. Blue ocean strategy value innovation strategy canvas four actions framework errc grid six paths framework pioneer migrator settler map three tiers of noncustomers sequence of creating a blue ocean buyer utility map price corridor of the mass four hurdles to strategy execution tipping point leadership fair process. The four actions framework tries to find an answer to the following questions. 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. Instead of dividing up existingand often shrinkingdemand and benchmarking competitors, blue ocean strategy is about growing demand and breaking. The blue ocean strategy book itself offers a variety of tools and frameworks for a. In this article you will learn how to make your competition irrelevant and have sales and profit.
The four actions framework and errc grid tweet after you define the three tiers of non customers, the idea is that you poll these noncustomers and find out what it would take to purchase your product or service. 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 is a theory, method and toolkit developed by w. However, the concepts behind the blue ocean strategy such as the competing factors, the consumer cycle, noncustomers, etc. Second, the strategic canvas is a diagnostic and action framework for building a compelling bos kim and mauborgne, 2005a. 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. Feb 01, 2016 blue ocean strategy is the simultaneous pursuit of differentiation and low cost to open up a new market space and create new demand. The blue ocean strategy and shift promote a fresh look at innovation webwire,japan to achieve high growth, organizations need to focus on noncustomers and capturing new markets instead of competing among crowds of challengers, advises w. Blue ocean strategy including examples and pdf download.
Renee mauborgne is the insead distinguished fellow and a professor of strategy at insead, one of the worlds top business schools. May 30, 2017 t his month, we read blue ocean strategy by w. Blue ocean strategy formulation the four principles of. Use our free blue ocean 4 actions framework template to create, collaborate on with your. Blue ocean strategy is a difficult concept to apply in practice. This tool is the central diagnostic and action framework for building a compelling blue ocean strategy. Netflix blue ocean strategy by ameni kabboudi issuu. In fact, they are the starting point to take action and push your.
Blue ocean strategy anda bisa mendownload file presentasi ini di. 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 case study service nsw 3 1 introduction blue ocean strategy1 has been used extensively to transform the public sector around the world at a local, state and national level. Blue ocean strategy and sustainability for strategic. Blue ocean strategy summary strategic management business. A read is counted each time someone views a publication summary such as the title, abstract, and list of authors, clicks on a figure, or views or downloads the fulltext. Four actions framework of blue ocean applied to jet blue. It is being published in a recordbreaking 44 languages and is a bestseller across five continents. A landmark work that upends traditional thinking about strategy, this bestselling business book charts a bold new path to winning the future.
A good blue ocean strategy has items in each of the four grids. 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 a strategy that advice companies to go to a new market, which interest customers and avoid competition from the existing market. The strategy canvas the strategy canvas is both a diagnostic and an action framework for building a compelling blue ocean strategy. Blue ocean strategy is a systematic approach to finding innovative, cost efficient, value adding, productmarket matches.
Most prominently, since 2009 the malaysian government has implemented a national blue ocean strategy to lift the living standard of the country and to. Chan kim and renee mauborgne are professors of strategy at insead and codirectors of the insead blue ocean strategy institute. This blog article is a overview of some of the key points of the book by w. Value innovation strategy competes in an uncontested market space. We developed various types of teaching materials including paper cases. Although there is an inevitability to having to compete in crowded markets, there are too many advantages to avoiding this situation to ignore the possibility of looking for blue space. Blue ocean strategy is a marketing theory and the title of a book published in 2004 that was written by w. Blue ocean strategy displays an orderly way to deal with making the challenge unessential and traces standards and instruments any organization can use to make and catch their blue seas. Blue ocean strategy introduces analytical tools to minimize risk. Secondly we will try to find a new blue ocean while applying asit. This strategy makes possible for companies, entrepreneurs to increase their chances of success.
Use features like bookmarks, note taking and highlighting while reading blue ocean strategy, expanded edition. This site is like a library, use search box in the widget to get ebook that you want. 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. This study focuses on kim and mauborgne four action framework tool of blue ocean strategy implemented by indian companies in the last. Many of inseads faculty have taught the ideas and frameworks in this book to execu. The six paths framework in formulating blue ocean strategy. Public sector application and research, including the application of blue ocean shift, blue ocean strategy, and blue ocean leadership to governments and nonprofits.
Blue ocean strategy is a consistent pattern of strategic thinking behind the creation. 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. Together, they wrote a bestselling book blue ocean strategy. Four actions framework of blue ocean applied to jet blue 1. Blue ocean strategy an insight into the future of customer relationship management christian gondek seminar paper business economics customer relationship management, crm publish your bachelors or masters thesis, dissertation, term paper or essay. Chen, information systems theory and practices red ocean vs. In this summary, well give a synopsis of the key concepts, tools and tips from the book. Create here, the idea is to create new industry factors that can. Blue ocean strategy is innovative, and it creates a new market instead of fitting into the current market.
Pdf download blue ocean strategy free unquote books. Blue ocean strategy insead school katharina niciejewska dimitar dimitrov seminar paper business economics. Chan kim, renee mauborgne, blue ocean strategy 2006 15. The service also has the ability to recommend certain content or make suggestions to each user, based on previous content watched. Strategy value innovation is created in the region where a companys actions. First and foremost on their list is a tool used to break out of competition and make competition irrelevant called the strategy canvas. Sep 26, 2016 the strategy canvas provides a highly visual tool to help look at future options. The core bostools are the strategic canvas with old and new value curve, six searching paths framework, fouractions framework and sequence of blue ocean strategy. Bos four actions framework errc grid innovating now. Chan kim and renee mauborgne in their bestselling book of the same name. You may or may not agree with the central philosophy, but you will be inspired. 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. The blue ocean strategy offers users a framework for creating uncontested market.
There are six basic approaches to reconstruct market boundaries, also known as six paths framework. Blue ocean strategy is a landmark idea founded by w. Learn the concepts of tipping point leadership and fair process that ensure effective execution of blue ocean. First published in 2005 then republished in 2015 with new information, it has become the core approach we use with our clients, many of whom are literally on the brink before getting.
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 move from red to blue oceans and to do so in a way that people own and drive the process. How to create uncontested market space and make the competition irrelevant unabridged by w chan kim, renee mauborgne isbn. Social sector application and research, including such topics as how blue ocean strategy can be applied in the developing world to mitigate poverty and improve education and health. The blue ocean strategy book defines red oceans as those which already contain a high level of competition.
The concept of blue ocean is based on the idea that the business universe is made up. The strategy canvas is both a diagnostic and an action framework for building a compelling blue ocean strategy. The blue ocean red ocean analogy is a powerful and memorable metaphor, which is responsible for its popularity. Pdf blue ocean strategy as a tool for improving a companys.
Chan kim and renee mauborgne, professors at insead and codirectors of the insead blue ocean strategy institute. Blue ocean strategy available for download and read online in other formats. To address these questions, we turn to the strategy canvas, an analytic framework that is central to value innovation and the cre ation of blue oceans. Achieved via the delivery of features that have a highest marginal benefit to customer needs.
The blue ocean strategy recommends that a successful business should be able to develop a new demand in an uncontested markets rather than compete directly with other competitors in the industry. How to create uncontested market space and make the competition irrelevant, expanded ed. Furthermore the blue ocean strategy was awarded with. Chan kim and renee mauborgne have created a comprehensive set of analytic tools and frameworks to create blue oceans of new market space. May 14, 2011 the blue ocean strategy four actions framework also called eliminate reduce raise create grid errc grid is a complementary tool to the strategy canvas. It was built on the notion of creating new markets where competition is irrelevant and the opportunity to grow and be profitable is unlimited. Here is a catalogue of blue ocean strategy pedagogical materials, used in over 2,800 universities and in almost every country around the world.
This article explains the blue ocean strategy, developed by w. Chan kim and renee mauborgne in their book titled blue ocean strategy. Blue ocean strategy blue ocean strategy is a strategic move that organizations or individuals use to create new product or ideas. 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. Feb 03, 2015 buy blue ocean strategy, expanded edition revised ed. The strategy canvas visualizes the current state of the industry and shows how a blue ocean strategy differs from incumbents. How to create uncontested market space and the make. Aim of this dissertation is to investigate whether eataly, the largest wine and food marketplace of the world, entered a blue ocean via business model innovation. When you apply the four actions framework to the strategy canvas of your. She is also codirector of the insead blue ocean strategy institute. Blue ocean strategy and new business models in the food. 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. Chan kim is the codirector of the insead blue ocean strategy institute and a chair professor of strategy and international management at insead. Chan kim and renee mauborgne was first published in 2005.
How to create uncontested market space and enter your mobile number or email address below and well send you a link to download the free kindle app. Focus on the kcfsas indicated by to be strategy canvas for implementation 22. Blue ocean strategy value innovation strategy canvas four actions. Blue ocean strategy and sustainability for strategic management. Click download or read online button to get summary of blue ocean strategy book now. List the factors the customer cares about, and current dimensions of competition. 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.
To break from competition, a organization has to reconstruct the market boundary which is the first and foremost principle in creating blue ocean strategy. The authors provide a framework for avoiding spaces where competition is bloody red oceans and moving to blue ocean spaces with ample potential. After reading you will understand the basics of this powerful strategy tool. In their 2017 new york times bestselling book, blue ocean shift, kim and mauborgne. Chan kim and renee mauborgne in the indie business book club. Blue ocean strategy summary free download as powerpoint presentation. Then you can start reading kindle books on your smartphone, tablet, or computer no kindle device required. The best strategy books of alltime updated for 2020. Pdf harvard business school press blue ocean strategy rajeh. The four actions framework aids in eliminating the tradeoff between differentiation and low cost.
Theeffect of blue ocean strategyon increasing competitive. Blue ocean strategy is a marketing theory and the title of a book published in 2004 that was. Reviewing the blue ocean strategy university of twente student. What is the blue ocean strategy the term blue ocean was coined by two professors w. Blue ocean strategy is a book published in 2005 and written by w. 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. Tipping point leadership and fair process in action in executing a blue ocean strategy, how can a company overcome various organizational hurdles and build trust and commitment among people who work for or with the company. The fouractions frameworkon blue ocean strategy to reduce, create, raise and eliminate industry practices to create a blue ocean fromthe industry red ocean. Mar 15, 2014 four actions framework of blue ocean applied to jet blue 1. Blue ocean strategy can be found on amazon blue ocean strategy. This chapter f i g u r e 14 the six principles of blue ocean strategy. Effective blue ocean strategy should be about risk minimization and not risk taking. The blue ocean strategy tools four actions framework.
Summary of blue ocean strategy download ebook pdf, epub. The four actions framework is used to add new values to the strategic canvas value curve. Using key blue ocean tools for strategy rethinking of a sme. Blue ocean strategy formulation the four principles of strategy formation this blog article is a summary of the book by w. How to create uncontested market space and make the competition irrelevant pdf by w. This metaphor can be powerful enough to stimulate people to action. Pdf blue ocean strategy download full pdf book download. A new value curve reduce eliminate create raise four actions framework. Four actions framework blue ocean strategy shortform blog.
His book blue ocean strategy, coauthored with renee mauborgne, has sold 3. Blue ocean strategy is a bad book, but it is not your usual bad book. Miro has multiple exporting options, like saving to pdf. All in all, blue ocean strategy is a book worth reading. Porters five forces analysis is a framework for industry analysis and business strategy development formed by michael e. That is why i used books, thesis, surveys, organizational records and data collected. Four actions framework template blue ocean framework miro. Everyday low prices and free delivery on eligible orders. These tools are specifically designed to easily communicate the message to either employees or funders. It provides guidelines to identify new competing factors and therefore be more creative during later phases of innovation and design a new buyer value curve. Jul 16, 2015 in this article, we will look at 1 what is a blue ocean strategy.
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