Wednesday, January 25, 2017

Summary of Blue Ocean Strategy Book by Ester



Book Title              : BLUE OCEAN STRATEGY

Author                    : W. Chan Kim / Renee Mauborgne

Publisher               : Harvard Business Review Press

Year Published     : 2015




SUMMARY OF THE BOOK:

  • Blue ocean strategy are about how to reconstruct market boundaries and offer a leap in value to buyers; unlocking business model innovation through strategic pricing, target costing, and the like so a company can seize the new customers profitably; releasing the creativity, knowledge sharing, and voluntary cooperation of people through the proper approach to employees and partners; and laying out tools and frameworks that companies can apply to make each happen in a risk-minimizing and opportunity-maximizing manner so that it becomes  a high performing and sustainable strategy. It is not about finding a better or lower-cost solution to the existing problem of an industry, both of which trigger disruption and displacement of existing products and services. Instead, blue ocean strategy is about redefining the problem itself, which tends to create new demand or an offering that often complements rather that displaces existing products and services.