Blue Ocean Strategy - How do you become the iPod of your industry?
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How do you become the iPod of your industry?
Author: Impact Executives
Date: Dec 2, 2009 - 8:57:26 AM
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Do you want to create new demand with a new group of previous non-customers? Do you want to break out of the red ocean of bloody competition by creating uncontested market space, ripe for growth that makes competition irrelevant?
Like human beings, corporations do smart things and crazy things. There is no such thing as a permanently excellent company or industry. To improve the quality of our success, the authors of Blue Ocean Strategy (BOS) have studied what we do that makes a positive difference and understood how to replicate it systematically. This is called making smart strategic moves or ‘value innovation’ - creating powerful leaps in value for both the firm and its buyers, rendering rivals obsolete and unleashing new demand. The strategic move that matters most is to create blue oceans.
Voted as the bestseller by the Wall Street Journal and Business Week, BOS examines a wide range of strategic moves across a host of industries. The framework addresses not only the analytical aspects behind the creation of BOS but also the allimportant human aspects of how to bring an organisation and its people on its journey, with a willingness to translate these ideas into action. An understanding of how to build trust and commitment, as well as an understanding of the importance of intellectual and emotional strengths are highlighted and brought to the core of this strategy.
Speaking recently at the London Business Forum, one of the authors, Renée Mauborgne, highlighted the six principles that every company can use to successfully formulate and execute blue ocean strategies.
The six principles show how to:
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