Blue Ocean Strategy
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
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A step-by-step model for creating strategy.
W. Chan Kim • Blue Ocean Strategy
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Execution can be built into strategy formulation.
W. Chan Kim • Blue Ocean Strategy
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Industry structure is not given; it can be shaped.
W. Chan Kim • Blue Ocean Strategy
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The eight principles of blue ocean strategy
W. Chan Kim • Blue Ocean Strategy
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Value innovation places equal emphasis on value and innovation. Value without innovation tends to focus on value creation on an incremental scale, something that improves value but is not sufficient to make you stand out in the marketplace.18 Innovation without value tends to be technology-driven, market pioneering, or futuristic, often shooting be
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W. Chan Kim • Blue Ocean Strategy
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Strategic creativity can be unlocked systematically.
W. Chan Kim • Blue Ocean Strategy
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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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