Blue Ocean Strategy: by W: Chan Kim & Renée Mauborgne png

Blue Ocean Strategy: by W Chan Kim & Renée Mauborgne
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Blue Ocean Strategy – Summary
Authors: W. Chan Kim & Renée Mauborgne
Published: 2005
Core Idea: Don’t compete in overcrowded markets ("red oceans"); instead, create uncontested market space ("blue oceans") through value innovation.

🌊 Red Ocean vs. Blue Ocean
Red Oceans represent all the industries in existence today. These are saturated markets where companies compete head-to-head, often leading to price wars, shrinking profits, and commoditization.

Blue Oceans are untapped market spaces, created by breaking away from traditional competition and offering unique value to customers. They focus on differentiation and low cost simultaneously.

🧭 Key Concepts
1. Value Innovation
The cornerstone of Blue Ocean Strategy.

It’s not just about innovation or value alone, but about aligning innovation with buyer value and cost reduction.

Companies should pursue both differentiation and low cost, a departure from the traditional trade-off mindset.

2. The Four Actions Framework
Used to reconstruct buyer value and create a new value curve:

Eliminate: What factors that the industry takes for granted should be eliminated?

Reduce: What factors should be reduced well below the industry standard?

Raise: What factors should be raised well above the industry standard?

Create: What factors should be created that the industry has never offered?

This framework helps challenge industry norms and rethink customer value.

3. Strategy Canvas
A diagnostic and action framework that captures the current state of play in the known market space.

It maps the factors of competition and where current players invest, revealing opportunities to break away from the competition.

🛠️ Tools & Frameworks
Six Paths Framework: Helps find new value curves by looking across alternative industries, strategic groups, buyer groups, complementary offerings, functional-emotional appeal, and time.

Buyer Utility Map: Identifies levers a company can pull to deliver exceptional utility to buyers.

Three Tiers of Noncustomers: Encourages companies to look beyond current customers to unlock new demand.

📈 Examples of Blue Ocean Strategies
Cirque du Soleil: Combined the circus and theater industries by eliminating costly animal acts and adding adult-oriented artistic elements.

Yellow Tail (wine): Simplified wine for non-wine drinkers by removing complexity and focusing on fun and easy-to-drink products.

Southwest Airlines: Merged features of air and car travel by eliminating traditional airline frills and lowering costs while improving convenience and speed.

🔁 Execution Principles
Focus not only on strategy formulation but also on execution.

Use fair process to build trust and commitment: Engage people in decisions, explain the reasoning behind decisions, and clearly state expectations.

🧠 Takeaways
Competing head-to-head rarely leads to sustainable success. The real opportunity lies in creating new market space.

Disruptive growth comes from noncustomers—those not yet consuming your product or service.

Strategic success requires discipline, tools, and execution, not just creativity.

✅ Final Thought
“Blue Ocean Strategy” redefines the way businesses should think about competition. Rather than trying to win in overcrowded markets, it encourages companies to make the competition irrelevant by changing the rules of the game.

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