Bringing structure to your strategy blue ocean strategy tools, methodologies and frameworks bring structure to what has historically been an unstructured problem in strategy informing organizations ability to create new market spaces systematically. Blue ocean strategy is a bad book, but it is not your usual bad book. The premise of the book is that companies can succeed by creating. Blue ocean strategy, organizational performance, red ocean strategy, value. An application of blue ocean strategy to techno global business. Chan kim et renee mauborgne, chercheurs au blue ocean strategy institute. In their 2017 new york times bestselling book, blue ocean shift, kim and mauborgne share how to put these practical marketcreating tools into practice to move from red to blue oceans and to do so in a way that people own and drive the process. The eliminatereduceraisecreate grid errc grid, a key blue ocean analytic, allows us to lay this out. Blue ocean strategy tools strategy canvas eliminatereduceraisecreate errc grid all rights. Blue ocean strategy including examples and pdf download. For blue ocean strategy training in pakistan contact. Blue ocean strategy how to create uncontested market space and make the.
Chan kim and renee mauborgne, professors at insead. It is a dangerous bad book because it takes some thinking to figure out why it is bad, despite its success, and despite the fact that its key metaphor of blue ocean vs. The strategy canvas outlined in the book is basically a tool to visually show how a company will or has created a blue ocean strategy. Cirque du soleilblue ocean strategy case study week 5 short. The errc grid s key issues eliminate, reduce, raise and create are important elements of the blue ocean method. These elements can be used as an adjusting tool on your way to new market segments. The blue ocean strategy 2x2 errc matrix allows you to picture. The purpose of this research is to gain insight into the blue ocean strategy by focusing on the strategy canvas, the four actions framework, the eliminate reduce raise create errc grid. May 30, 2017 it reduced costs by using plastic instead of metal, for example, and reducing the parts in each watch from 150 to 50. One way is to implement blue ocean strategy that allows businesses to. Key points bos is the simultaneous pursuit of differentiation and low cost. In this article you will learn how to make your competition irrelevant and have sales and profit growth in excess of anything you thought was even possible. Blue ocean strategy has helped numerous companies and organisations across the globe.
How to create uncontested market space and make the competition irrelevant, w. Blue ocean strategy value innovation strategy canvas four actions framework errc grid six paths framework pioneer migrator settler map three tiers of noncustomers sequence of creating a blue ocean buyer utility map price corridor of the mass four hurdles to strategy execution tipping point leadership fair process. The eliminatereduceraisecreate errc grid developed by w. Blue ocean strategy ppt free download as powerpoint presentation. Blue ocean strategy generally refers to the creation by a company of a new, uncontested market space that makes competitors irrelevant and that creates new consumer value often while decreasing costs. Blue ocean strategy ppt business economics free 30. The eliminatereduceraisecreate errc grid pushes companies not only to ask all four questions in the four actions framework but also to act on all four to create a new value curve, essential for unlocking a new blue ocean. With blue ocean strategy tools and analytics, companies can now pursue and create blue oceans. The bos was selected as one of the 40 most influential books in the history of the. Those who want to create a blue ocean strategy for their company must focus on value innovation that makes the competition irrelevant by the simultaneous pursuit of differentiation and low cost, thus creating a leap in value for the customers and an uncontested market space for the company.
Pdf the influence of blue ocean strategy on organizational. In this book summary of blue ocean strategy, well outline the key concepts, tools and tips from. Set sail towards your blue ocean jk beteiligung gmbh. Essay about blue ocean strategy 825 words bartleby. May 26, 2015 summary of the first four chapters of the international bestseller blue ocean strategy. Chan kim and renee mauborgne are professors of strategy at insead and codirectors of the insead blue ocean strategy institute. Blue ocean strategy challenges companies to break out of the red ocean of bloody competition by creating uncontested market space that makes the competition irrelevant. Chan kim and renee mauborgne is a simple matrix like tool that drives companies to focus simultaneously on eliminating and reducing, as well as raising and creating while unlocking a new blue ocean. Apr 03, 2010 formulating blue ocean strategy 75 mins 120 mins 120 mins exploration. May 14, 2011 the blue ocean strategy four actions framework also called eliminate reduce raise create grid errc grid is a complementary tool to the strategy canvas. Aim of this dissertation is to investigate whether eataly, the largest wine and food marketplace of the world, entered a blue ocean via business model innovation. Blue ocean strategy formulation the strategy canvas.
Errc grid, kanvas strategi, blue ocean idea, blue ocean strategy, red ocean strategy, coffee shop. Blue ocean strategy training in pakistan best blue ocean. Chan kim and renee mauborgne in their bestselling book of the same name. The strategy canvas helps you to graphically illustrate and compare different parts of your supply depending on customer benefits. This book will empower you to succeed as you embark on your own blue ocean journey. Instead of dividing up existingand often shrinkingdemand and benchmarking competitors, blue ocean strategy is about growing demand and breaking. Blue ocean strategys errc grid drives companies to focus simultaneously on eliminating and reducing, as well as raising and creating to unlock a new market. The purpose of this research is to gain insight into the blue ocean strategy by focusing on the strategy canvas, the four actions framework, the eliminate reduce raise create errc grid, and the six paths framework.
A landmark work that upends traditional thinking about strategy, this bestselling business book charts a bold new path to winning the future. Netflix blue ocean strategy by ameni kabboudi issuu. Feb 28, 2015 blue ocean strategys errc grid drives companies to focus simultaneously on eliminating and reducing, as well as raising and creating to unlock a new market space. Summary of the first four chapters of the international bestseller blue ocean strategy. Blue ocean strategy summary and examples slideshare. Pdf blue ocean strategy download full pdf book download. Chan kim and renee mauborgne, professors at insead and codirectors of the insead blue ocean strategy institute. One way is to implement blue ocean strategy that allows businesses to create a niche market to get out of the red ocean competition so that competition becomes irrelevant. Find out today what blue ocean strategy can do for you. The case comes with a teaching note and a lecture slide pack. Made by group d of the minor global trendwatching 2015. Blue ocean strategy and new business models in the food. Jun 20, 20 the blue ocean strategy 2x2 errc matrix allows you to picture your business in the industry. The application of the blue ocean strategy assessing.
Blue ocean strategy and new business models in the food industry. Chan kim and renee mauborgne have created a comprehensive set of analytic tools and frameworks to create blue oceans of new market space. Blue ocean strategy case study service nsw 3 1 introduction blue ocean strategy1 has been used extensively to transform the public sector around the world at a local, state and national level. Errc grid for the shorthaul airline industry eliminate. Jan 14, 2012 the 7 books every entrepreneur must read. As for those who choose a threestar hotel over a fivestar, price jumped out as the most common factor, followed by one other. Most prominently, since 2009 the malaysian government has implemented a national blue ocean strategy to lift the living standard of the country and to. The aim of bos is not to outperform the competition in the existing.
Blue ocean strategy concepts are applied to analyze amazons marketcreating strategic logic for future growth. Blue ocean strategy is a marketing theory and the title of a book published in 2004 written by w. Blue ocean shift is the essential follow up to blue ocean strategy, the classic and. This blog article is a overview of some of the key points of the book by w. Blue ocean strategys frameworks and tools can be effectively deployed to reframe, analyze, and resolve the marketing issues of an organization as it strives to break out of the red ocean. 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. May 31, 2016 based on a study of 150 strategic moves spanning more than 100 years and 30 industries, blue ocean strategy addresses this question and provides a systematic approach to drafting and implementing your own blue ocean strategy. The service also has the ability to recommend certain content or make suggestions to each user, based on previous content watched. They assert that these strategic moves create a leap in value for the company, its buyers, and its employees while unlocking new demand and making the competition irrelevant. Blue ocean strategy, the global phenomenon that has sold over 4 million copies and is recognized as one of the most iconic and impactful strategy books ever written, argues that cutthroat competition results in nothing but a bloody red ocean of rivals fighting over a shrinking profit pool. Blue ocean strategy, create new markets and leave the competition behind. Eliminatereduceraisecreate grid errc grid blue ocean.
Pdf the study deals with the blue ocean strategy bos that offers users a framework for. In this way, it swam into a blue ocean, offering a plastic watch at a price that allowed people to purchase two or three watches at one time. It presents a theory, tools, and frameworks to allow your company to break away from the competition and create a blue ocean of new market space. Blue ocean strategy is a book published in 2005 and written by w. They are the authors of the international bestselling book blue ocean strategy which is recognized as one of the most iconic and impactful strategy books ever written, and the recently released. The eliminatereduceraise create errc grid pushes companies not only to ask all four questions in the four actions framework but also to act on all four to create a new value curve, essential for unlocking a new blue ocean. The on the blue ocean strategy essay 1969 words 8 pages. It is used to plot how the current competitors compete in a market space, what factors they compete on and how your company and the competition scores on each key factor. Get the one page summary of the case and teaching objectives here. Based on a study of 150 strategic moves spanning more than 100 years and 30 industries, blue ocean strategy addresses this question and provides a systematic approach to drafting and implementing your own blue ocean strategy. It provides guidelines to identify new competing factors and therefore be more creative during later phases of innovation and design a new buyer value curve. However, nowadays, the better way to win in business is to create uncontested markets where no competition exists yet a.
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