updated 2y ago
Blue Ocean Strategy
Execution can be built into strategy formulation.
from Blue Ocean Strategy by W. Chan Kim, Renee Mauborgne, Renée A. Mauborgne
Cirque du Soleil succeeded because it realized that to win in the future, companies must stop competing with each other. The only way to beat the competition is to stop trying to beat the competition.
from Blue Ocean Strategy by W. Chan Kim, Renee Mauborgne, Renée A. Mauborgne
The creators of blue oceans, surprisingly, didn’t use the competition as their benchmark.17 Instead, they followed a different strategic logic that we call value innovation. Value innovation is the cornerstone of blue ocean strategy. We call it value innovation because instead of focusing on beating the competition, you focus on making the competit
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josh added 8mo ago
Value innovation is created in the region where a company’s actions favorably affect both its cost structure and its value proposition to buyers. Cost savings are made by eliminating and reducing the factors an industry competes on. Buyer value is lifted by raising and creating elements the industry has never offered. Over time, costs are reduced f
... See morefrom Blue Ocean Strategy by W. Chan Kim, Renee Mauborgne, Renée A. Mauborgne
Competition-based red ocean strategy assumes that an industry’s structural conditions are given and that firms are forced to compete within them, an assumption based on what the academics call the structuralist view, or environmental determinism.
from Blue Ocean Strategy by W. Chan Kim, Renee Mauborgne, Renée A. Mauborgne
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from Blue Ocean Strategy by W. Chan Kim, Renee Mauborgne, Renée A. Mauborgne
These six assumptions, on which most companies hypnotically build their strategies, keep companies trapped competing in red oceans. Specifically, companies tend to do the following: Define their industry similarly and focus on being the best within it Look at their industries through the lens of generally accepted strategic groups (such as luxury a
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from Blue Ocean Strategy by W. Chan Kim, Renee Mauborgne, Renée A. Mauborgne
Industry structure is not given; it can be shaped.
from Blue Ocean Strategy by W. Chan Kim, Renee Mauborgne, Renée A. Mauborgne
Competition should not occupy the center of strategic thinking.
from Blue Ocean Strategy by W. Chan Kim, Renee Mauborgne, Renée A. Mauborgne
josh added 8mo ago