Blue ocean strategy is the 2015 update to the classic business strategy text of the same name originally published in 2005 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. Blue ocean is a slang term for the uncontested market space for an unknown industry or innovation coined by professors w chan kim and renee mauborgne in their book blue ocean strategy: how to. Value innovation is the cornerstone of blue ocean strategy|  and it is the strategic move that allows a company to create a blue ocean typically, companies in the red ocean pursue incremental improvements for customers through either low cost or differentiation.
The reason is that blue ocean strategy creates considerable economic and cognitive barriers to imitation for a start, adopting a blue ocean creator’s business model is easier to imagine than to do. The latest tweets from blue ocean strategy (@blueoceanstrtgy) #blueoceanshift and #blueoceanstrategy are worldwide business strategy bestsellers, helping you to move beyond competing and start creating your #blueocean. Blue ocean strategy importance to business 2 background applications framework implementation considerations examples blue ocean strategy importance to business why blue ocean strategy must be considered advances in technology improved productivity greater manufacturing capacities globalization effects. Blue ocean strategy is the strategy a company adopts when there is little or no competition in the market and there is no entry barriers for new entrants red ocean strategy is just the reverse of blue ocean strategy.
Blue ocean strategy is the simultaneous pursuit of differentiation and low cost to open up a new market space and create new demand it is about creating and capturing uncontested market space, thereby making the competition irrelevant. Blue ocean strategy is a marketing theory from a book published in 2004 which was written by w chan kim and renée mauborgne, professors at insead [citation needed overview based on a study of 150 strategic moves spanning more than a hundred years and thirty industries, kim and mauborgne argue that companies can succeed by creating blue. Definition: 'blue ocean strategy is referred to a market for a product where there is no competition or very less competition this strategy revolves around searching for a business in which very few firms operate and where there is no pricing pressure. Blue ocean shift is the definitive guide to shift you, your team, and your organization to new heights of confidence, market creation, and growth blue ocean.
Definition of blue ocean : a slang term for the uncontested market space for an unknown industry or innovation coined by professors w chan kim and renee mauborgne in their book blue ocean strategy: how to create uncontested market space and the make competition irrelevant (2005), blue oceans are associated with high potential profits. Blue ocean strategy & blue ocean shift is about creating new market space and making the competition irrelevant it is a roadmap to move you, your team, and your organization to new heights of confidence, market creation and growth. Blue ocean strategy, expanded edition: how to create uncontested market space and make the competition irrelevant (leatherbound deluxe collector's edition) by w chan kim, renee a mauborgne the global phenomenon that has sold 36 million copies, is published in a record-breaking 44 languages and is a bestseller across five continents—now. Blue ocean strategy 40k likes blue ocean strategy, created by world-renowned professors chan kim and renée mauborgne, is a new way of thinking, a. Blue ocean strategy is growth strategy framework focused on the idea of creating an uncontested market space--ie a blue ocean this framework is very innovative, as its principles challenge the conventional business strategy principles of fighting competitors head-on.
Blue ocean strategy has sold over 36 million copies, is being published in a record-breaking 44 languages, and is a bestseller across five continents kim and mauborgne rank in the top 3 management gurus in the world in the thinkers50 list and are the recipients of numerous academic and management awards around the world including the nobels. Blue ocean strategy is a strategic mindset and execution methodology that creates unprecedented value at a lower cost faculty and staff are working to examine the entire student experience and how it can be improved to help students graduate. This is a workshop presentation developed by kb yip and ys lieu for a learning institution it can be easily customized to suit the needs for other organizati.
In effect, blue ocean strategy involves market-creating innovation it opens up new possibilities that are not available to organizations operating within the existing cost-value structure. Blue ocean provides a digital strategy to completely re-define how an organisation is positioned and defined in any market by thinking more laterally and re-appraising how to differentiate the organisation from the competition to open up and create new markets. The first example of blue ocean strategy comes from computer games giant, nintendo, in the form of the nintendo wii the nintendo wii launched in 2006 and at its heart is the concept of value innovation.
One of the most successful efforts to do so is the book “blue ocean strategy,” by w chan kim and renee mauborgne while avoiding use of mr porter’s name, mr kim and ms mauborgne nevertheless attack him head on, arguing that the “five forces” analysis is a formula for remaining in “red oceans,” where the sharks compete. At the 10-year anniversary of blue ocean strategy, we at insead are conﬁdent that our dedication to excellence, in tandem with our spirit of innovation, will lead insead to continued success. What is the blue ocean strategy blue oceans strategy is the approach that suggests a company is better off searching for ways to play in uncontested market places instead of engaging with competition in existing marketing spaces it is the idea of trying to find market spaces that are free of competitors by creating and caputuring new demand.