This brings us to the fifth principle of blue ocean strategy – Overcome key organizational hurdles to make blue ocean strategy happen in action. The belief that blue ocean strategy sees competition as bad when in fact it can … BOS Blue Ocean Strategy is the result of a decade-long study of 150 strategic moves spanning more than 30 industries over 100 years (1880-2000). Posted on 1 November 2015 1 November 2015 by Syachrial Permata. Limitations Some of the Blue Ocean Strategy limitation suggested by Bowman (2008) includes the cost associated with failed projects and innovations, the ambiguity in the industry definition and the methodology carried out for the theory. One key point of Blue Ocean Strategy is how to create value and how to make customer comfortable and willing to pay for it. The strategy … The misconception that blue ocean strategy is a low-cost strategy that focuses on low pricing. A path-breaking strategy known as Blue Ocean Strategy is a pacifist marketing scheme and is considered a strategic planning tool for assessing a business. • Red oceans are competition intensive markets where firms ´struggle´ to survive (the oceans are red from the blood of … Blue Ocean Strategy breaks down the key techniques to successfully executing tipping point leadership. Innovation has a key role on this matter, but not only. A red ocean … Blue Ocean Strategy is a theory, method and toolkit developed by W. Chan Kim and Reneé Mauborgne and outlined in their breakthrough book, Blue Ocean Strategy. In Red Oceans, industry boundaries are defined and accepted, and the competitive rules of the game are known. Wawa Case Study. Competitive Strategy Forces Porter’s … 9. What is blue ocean strategy… The point of this chapter is that you shouldn’t develop and implement the blue ocean strategy in a silo, ignoring people on your team. Key questions: Who are the buyers in your industry? The first hurdle described in the fifth principle is the cognitive hurdle, or the unwillingness of the people of a firm to recognize the need for change. 5. 2) understanding the blue ocean strategy, 3) how to apply the blue ocean strategy to your business, and 4) examples. Beat the competition 3. 5. create an uncontested market: the whole point of a blue ocean strategy is to look beyond the conventional boundaries of existing markets to create an uncontested market. 2. The aim of BOS Blue Ocean Strategy … Many other tools are also involved in this strategy in relation to SMEs but the key tools can be explained as follows: (Kim, W.C. & Mauborgne, R., 2005) If your blue ocean strategy upends the status quo, your team will be scared – for their jobs, their position in … Overcome Key … If you are still working in silos, try to create process bridges over them so that in the … Tipping point leader handles this obstacle by avoiding unmeaningful … What is Blue Ocean Strategy? Markets or “blue oceans” are created by value innovation and at the same time driving down costs. Products are rarely used in isolation – they’re part of the total experience. The aim of BOS is not to out-perform the competition in the existing industry, but to create new market space or a blue ocean, thereby making the competition … The premise of the book is that companies can succeed by creating ″blue oceans″ of uncontested market space rather than … The aim of BOS is not to out-perform the competition in the existing industry, but to create new market space or a blue ocean… Because BOS represents a huge shift from status quo, the challenge of execution is amplified. What the media says … Our Team Our Qualified and Accredited Team Members. Blue Ocean Strategy is a book published in 2005 and written by W. Chan Kim and Renée Mauborgne, professors at INSEAD and co-directors of the INSEAD Blue Ocean Strategy Institute. Here we delve deeply into those details: We show you how to put the right team together, set up the process, and systematically apply each tool, in what sequence, to produce results and avoid and overcome potential stumbling … The strategy is specifically a marketing theory and thus, a marketing strategy. The terms blue and red oceans were introduced by W. Chan Kim and Renée Mauborgne in their book Blue Ocean Strategy. As I read the book, I pictured Julien Smith's Breather as a great example as a company that found a blue … The third and final part describes the two key implementation principles of blue ocean strategy including tipping point leadership and fair process. But as you’re creating a new market, you’re are creating the rules of the game. Overcome Key Organizational Hurdles Overcome Key Organizational Hurdles Cognitive Hurdle Motivational Hurdle Resource Hurdle Political Hurdle 24. Upload; Login; Signup; Submit Search ... Executing Blue Ocean Strategy 23. If followed correctly those principles the mentioned risks are attenuated. Cirque du Soleil and Curves are two such companies that have created their own blue ocean businesses. Andrew has been Managing Director of Blue Ocean Strategy … Defining Blue Ocean Strategy: Red Ocean Versus Blue Ocean . To explain further, W. Chan Kim and Renée Mauborgne introduced the difference between a red ocean and a blue ocean, both of which are metaphors for market spaces. The belief that blue ocean strategy is the same as innovation. Overcoming organizational hurdles and making blue ocean implementations happen in real-time is the fifth principle of blue ocean strategy. Going to the movies … WHAT IS THE BLUE OCEAN STRATEGY The term blue ocean was coined by two professors W.Chan Kim and Renee Mauborgne in their book titled “ Blue Ocean Strategy : How to Create Uncontested Market Space … Blue Ocean Strategy Example 7: Look at Your Product’s Complements. Make the value cost trade off 5. 8. BOS Blue Ocean Strategy is the simultaneous pursuit of differentiation and low cost. Executing the Blue Ocean Strategy 1) Overcome Key Organizational Hurdles. Key Points About BOS BOS is the result of a decade-long study of 150 strategic moves spanning more than 30 industries over 100 years (1880-2000). The key tools and processes involved in developing a Blue Ocean are: strategy canvas, four force action frame work, ERRC grid, and four hurdles to execution. One of my favorite business books is called Blue Ocean Strategy, written by W. Chan Kim and Renee Mauborgne, professors at INSEAD, back in 2004. and offer the following nine key points of Blue Ocean Strategy. Authors believe that the red ocean stands for a market that is overwhelmed with competitors, and the blue ocean represents an unknown market without rivals. Nine Key Points of Blue Ocean Strategy (BOS) 1. SlideShare Explore Search You. 1. Effective blue ocean … Slides about blue ocean strategy . 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 … If you have not bought the book, do so. 1-6: Market opportunity. It asserts that for businesses to win in the future, they must stop competing. Blue Ocean Strategy. Red Oceans are described as all the industries in existence today: the known market space. BOS is the simultaneous pursuit of differentiation and low cost. Can you create a new product targeting their pain points? They uncovered a systematic process of achieving growth that works whether you are a cash-strapped startup, non-profit, … Other Strategy Theories and Approaches. Exploit existing demand 4. The book recommends using the approach of “tipping point leadership” to overcome the 4 key hurdles to change: • Cognitive Hurdle (waking … Blue Ocean Strategy - Including Examples And PDF Download. It must be aligned with utility, price and cost. 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.