Blue Ocean Strategy, Expanded Edition: How to Create Uncontested Market Space and Make the Competition Irrelevant
WHAT ARE RED OCEANS AND BLUE OCEANS?
In their classic book, Blue Ocean Strategy, Chan Kim & Renée Mauborgne coined the terms ’red ocean’ and ‘blue ocean’ to describe the market universe.
RED OCEANS are all the industries in existence today – the known market space. In red oceans, industry boundaries are defined and accepted, and the competitive rules of the game are known.
Here, companies try to outperform their rivals to grab a greater share of existing demand. As the market space gets crowded, profits and growth are reduced. Products become commodities, leading to a cutthroat or ‘bloody’ competition. Hence the term red oceans.
BLUE OCEANS, in contrast, denote all the industries not in existence today – the unknown market space, untainted by competition. In blue oceans, demand is
created rather than fought over. There is ample opportunity for growth that is both profitable and rapid.
In blue oceans, competition is irrelevant because the rules of the game are waiting to be set. A blue ocean is an analogy to describe the wider, deeper potential to be found in unexplored market space. A blue ocean is vast, deep, and powerful in terms of profitable growth.
The global phenomenon that has sold over 4 million copies, is published in a record-breaking 46 languages and is a bestseller across five continents--now updated and expanded with new content. Named by Fast Company as one of the most influential leadership books in its Leadership Hall of Fame. A strategy classic.
In this perennial bestseller, embraced by organizations and industries worldwide, globally preeminent management thinkers W. Chan Kim and Renee Mauborgne challenge everything you thought you knew about the requirements for strategic success. 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. 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 oceans"--untapped new market spaces ripe for growth.
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 its own blue oceans. This expanded edition includes:
- A new preface by the authors: Help! My Ocean Is Turning Red
- Updates on all cases and examples in the book, bringing their stories up to the present time
- Two new chapters and an expanded third one--Alignment, Renewal, and Red Ocean Traps --that address the most pressing questions readers have asked over the past 10 years
A landmark work that upends traditional thinking about strategy, this bestselling book charts a bold new path to winning the future. Consider this your guide to creating uncontested market space--and making the competition irrelevant.
To learn more about the power of BLUE OCEAN STRATEGY, visit blueoceanstrategy.com. There you'll find all the resources you need--from ideas in practice and cases from government and private industry to teaching materials, mobile apps, real-time updates, and tips and tools to help you make your blue ocean journey a success.
Product details
- Publisher : Harvard Business Review Press; Expanded edition (January 20, 2015)
- Language : English
- Hardcover : 320 pages
- ISBN-10 : 1625274491
- ISBN-13 : 978-1625274496
- Item Weight : 1.19 pounds
- Dimensions : 6.3 x 1.3 x 9.2 inches
- Best Sellers Rank: #10,145 in Books (See Top 100 in Books)
- #6 in Systems & Planning
- #61 in Business Management (Books)
- #105 in Leadership & Motivation
- Customer Reviews:
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CONCLUSION
KEY POINTS OF BLUE OCEAN STRATEGY & SHIFT
It’s grounded in data
Blue Ocean's strategy is based on a decade-long study of more than 150 strategic moves spanning more than 30 industries over 100 years.
It provides a step-by-step process
From assessing the current state of play in the industry to exploring the six paths to new market space to understanding how to convert noncustomers into customers, blue ocean strategy and shift provide a systematic process to create your blue ocean.
It pursues differentiation and low cost
Blue ocean's strategy is based on the simultaneous pursuit of differentiation AND low cost. It is an ‘and-and’ not an ‘either-or’ strategy.
It maximizes opportunity while minimizing risk
Blue ocean strategy allows you to test the commercial viability of your ideas and shows you how to refine your ideas to maximize your upside while minimizing downside risk.
It creates uncontested market space
Blue ocean's strategy doesn’t aim to outperform the competition. It aims to make the competition irrelevant by reconstructing industry boundaries.
It builds execution into strategy
The process and tools are inclusive, easy to understand, and visual – which makes the process non-intimidating and an effective path to building execution into strategy.
It empowers you through tools and frameworks
The Blue ocean strategy offers systematic tools and frameworks to shift from a red ocean of competition to a blue ocean of new market space.
It shows you how to create a win-win outcome
As an integrated approach, the blue ocean strategy shows how to align the three strategy propositions – value, profit, and people – to create a win-win outcome. Blue ocean shift builds humanness into the process to build people’s confidence to own and drive the process.
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