The Blue Ocean Strategy Summary (With 3 Examples) | blue ocean strategy examples
Ofthemanystrategicplanningmodelsthatexist,theBlueOceanStrategycouldbeconsideredthepacifistofthegroup.Basedonaneponymouslytitledbook,[1]thisstrategyarguesthat“cutthroatcompetitionresultsinnothingbutabloodyredoceanofrivalsfightingoverashrinkingprofitpool.”Companiesshouldinsteadlookfornewmarketspaceandwaystoreinventtheindustry.Inshort,avoidhead-to-headcompetitionandfocusoninnovation.ThegoalofaBlueOceanStrategyisfororganizationstofindanddevelop“blueoceans”(uncontested,growingmarkets)andavoid“red...
Of the many strategic planning models that exist, the Blue Ocean Strategy could be considered the pacifist of the group.
Based on an eponymously titled book,[1] this strategy argues that “cutthroat competition results in nothing but a bloody red ocean of rivals fighting over a shrinking profit pool.” Companies should instead look for new market space and ways to reinvent the industry. In short, avoid head-to-head competition and focus on innovation.
The goal of a Blue Ocean Strategy is for organizations to find and develop “blue oceans” (uncontested, growing markets) and avoid “red oceans” (overdeveloped, saturated markets). A company will have more success, fewer risks, and increased profits in a blue ocean market.
Summary Of The Blue Ocean StrategyThis strategic planning model[2] is a departure from the typical management exercise that focuses on number crunching and competitive benchmarking. Here are key points of the Blue Ocean Strategy:
It’s more than ...