Must for promotion and Strategy students, and for all those paying attention in a fine business read. I will not give out much in sequence about the contents of this book- many have done it by now but it spoils the fun and thrill we feel reading this brilliant work of art. If you’re proverbial with Porter’s five forces of competition, Kim & Mauborgne take you to another direction of achieving “Blue Ocean”- the essential idea of untying yourself from competition, and from competing. There are many critics, who argue that Kim & Mauborgne cover about introductory phase, but once you achieve “Blue Ocean” then you’re only inviting others to compete against you; there wishes to be a balance amid blue ocean and competition. But generally you’re not reading this book to base your whole organizational marketing strategies on achieving Blue Ocean, but rather to learn a new way- one that has gained a immense popularity and caused a lot of controversy by going beside traditional methods of competition.
Blue Ocean Strategy: How to Create Uncontested Market Space and Make the Competition Irrelevant: Winning by Not Competing: A Bright Move Toward To Strategy
Since the dawn of the business age, companies have engaged in head-to-head competition in search of sustained, cost-effective growth. They have fought for competitive benefit, battled over souk share, and struggled for differentiation. Yet these hallmarks of competitive strategy are not the way to generate lucrative growth in the future.
In a book that challenges everything you thought you knew about the requirements for strategic achievement, W. Chan Kim and Renée Mauborgne argue that cutthroat competition results in nothing but a bloody red ocean of rivals fighting over a decrease proceeds pool. Based on a study of 150 strategic moves straddling more than a hundred years and thirty industries, the authors argue that lasting success comes not from battling competitors, but from creating “blue oceans”: untapped new market spaces ready for growth. Such strategic moves-which the authors call “value innovation”- generate influential leaps in value that often turn into rivals outmoded for more than a decade.
Blue Ocean Strategy presents a systematic approach to making the competition irrelevant and outlines principles and tools any company can use to produce and imprison blue oceans. A landmark work that upends established thinking about strategy, this book charts a bold new path to winning the future.
W. Chan Kim is the Boston Consulting Group Bruce D. Henderson Chair Professor of Strategy and International Management at INSEAD. Renée Mauborgne is the INSEAD illustrious Fellow and Professor of Strategy and Organization.
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