Blue Ocean Strategy: How To Create Uncontested Market Space And Make The Competition Irrelevant by W. Chan Kim
My rating: 2 of 5 stars
The authors (W. Chan Kim and Renee Mauborgne) provide case studies on how some companies left their "bloody-red" oceans of competition for completely open blue oceans where they were unique.
Some are well-known business stories, such as Southwest Airlines becoming a low-cost provider. However, the book provides details into Southwest's underlying business strategies that may not be well known. Other case studies gave new insight into various companies and their product strategics. One interesting story, for example, was [yellow tail], the Australian wine company that stepped outside of the traditional wine marketing with a simpler offering targeting casual drinkers.
The book covers the "strategic canvas" for analyzing competitors and planning a new market space. It then outlines six different principals for creating your own "blue ocean" strategy:
1) Reconstruct market boundaries
2) Focus on the big picture, not on the numbers
3) Reach beyond existing demand
4) Get the strategic sequence right
5) Overcome key organizational hurdles to make blue ocean strategy happen in action
6) Build execution into strategy from the start to build organizational trust and commitment
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