The Ordinary demonstrated that through smart actions and strategic decisions a company can create a Blue Ocean even in hyper competitive beauty industry. In the 1890s, the horse and buggy was the primary mode of transportation. Six path to blue ocean strategy Conventional boundaries in a competitive marketplace Industry - industry size & dependencies Strategic groups – strategic groups i.e customer , vendors etc Buyer group- individual customer From competing buying processes Creating value within across Scope of product: scope of adding value with complementing products Functional/ emotional orientation of … Die Blue-Ocean-Strategie wurde von den INSEAD-Professoren W. Chan Kim und Renée Mauborgne entwickelt und 2004 vorgestellt. Time. The temptation for an airline is to assume that they operate in the airline industry and limit their strategic view accordingly. Blue Ocean Strategy Summary Three Examples of Blue Oceans While this came in Appendix A in the book, this is a good time to cover three industries with repeated blue ocean creation. Blue Ocean Strategy - Summary and Examples 1. My business background is in pharmaceutical marketing and strategy development, specifically launching and repositioning pharmaceutical brands in Europe and Asia. Blue Ocean Entertainment AG Seidenstraße 19 70174 Stuttgart Burda Direkt Services GmbH Abo-Telefon: 01806 / 14005020* Fax: 01806 / 14005022* *Dieser Anruf kostet 20 Cent / Anruf aus dem dt. Blue ocean strategy 1. Functional / Emotional Orientation. It competes with health drinks, juice brands, at the same time it competes with pharma industry. Slides about blue ocean strategy. Blue Ocean Strategy and Blue Ocean Shift Kim and Mauborgne have been researching what it takes to break out of the red ocean of competition and generate strong profitable growth for over 30 years. In the Blue Ocean Strategy the terms red and blue oceans denote the market universe. Industry. In the 1990s, wine in the United States occupied two segments: high value fancy wines vs mass-produced budget wines. Blue ocean strategy doesn’t aim to out-perform the competition. In Red Oceans, industry boundaries are defined and accepted, and the competitive rules of the game are known. 4. 2) understanding the blue ocean strategy, 3) how to apply the blue ocean strategy to your business, and 4) examples. In this summary, we’ll give a synopsis of the key concepts, tools and tips from the book. In this 5 minute blog, I’ll tell you what the difference is between a red vs blue ocean, and how certain entrepreneurial skills can help you survive a bloody red ocean. Blue ocean is a slang term referring to the uncontested market space of an unknown industry or innovation. To understand red ocean strategy let us begin by defining blue ocean strategy. They uncovered a systematic process of achieving growth that works whether you are a cash-strapped startup, non-profit, small business, or a large, established company. However, this discussion will also include the more recently expanded 2015 edition. Discuss Reconstructing Boundaries and what paths an industry should take to become successful. The key to a successful blue ocean strategy is finding the right market opportunity and making the competition irrelevant. 2. This new market space is created by launching new offerings, with the aim being to make the competition irrelevant so that an organization can grow, uncontested, at least in the beginning. 2. Thus Yakult has created a blue ocean for itself across industries. Alyssa. In 2009, I left my job in the industry to move to the USA. 5. However, both health drinks producers & pharma brands don’t consider Yakult as their competition. The term “Blue Ocean” stems from the idea that there are opportunities in each industry to move from the ultra competitive battles around price and features (red ocean) into a new market reality where your typical competitors are either non-existent or irrelevant. The structure and market boundaries exist only in managers’ minds; practitioners who hold this view do not let existing market structures limit their thinking. [yellow tail] Wines and Blue Ocean Strategy. Blue ocean strategy is based on the simultaneous pursuit of differentiation and low cost. Red Ocean Strategy. We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. 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. Of the many strategic planning models that exist, the Blue Ocean Strategy could be considered the pacifist of the group. Fancy wines tried to offer more of everything – tasting complexity, refined image, aging, vineyard history and prestige, and price. Blue Ocean Strategy Australia. Blue Ocean Strategy is a marketing theory in which a business enters a market that has little or no competition. It is an ‘and-and,’ not an ‘either-or’ strategy. Blue Ocean Strategy How to Create Uncontested Market Space and Make the Competition Irrelevant Facilitators : Yip Khai Biau ([email protected]) & Lieu Yoke Sun Group/Presentation Title Agilent Restricted Date ##, 200X Blue-Ocean-Strategie, engl.Blue Ocean Strategy, ist eine Methode zur Entwicklung dauerhaft profitabler Geschäftsmodelle aus dem Bereich des strategischen Managements: Grundgedanke ist, dass nur durch die Entwicklung innovativer und neuer Märkte, welche der breiten Masse der Kunden bzw. Introduction to Blue Ocean Strategy. Discuss Red Ocean and Blue Ocean . Buyer Groups. The six paths framework in formulating blue ocean strategy are (1) Look across alternative industries, (2) Look across strategic groups within industry, (3)Look across buyer groups, (4) Look across complementary product and service offerings, (5)Look across the functional-emotional orientation of an industry and (5)Look across time to shape trends. 6. Go where profits and growth are – and where the competition isn’t. 3. In this article, we will look at 1) what is a blue ocean strategy? Blue Ocean Strategy was first published in 2005. Whereas conventional strategic approaches drive companies to define their industry similarly and focus on being the best within it, blue ocean strategy prompts them to break out of the accepted To illustrate how Blue Ocean Strategy can be used in a variety of industries, we’ll cover three very different industries – automobiles, computers, and movie theaters. Red Oceans are described as all the industries in existence today: the known market space. It aims to make the competition irrelevant by reconstructing industry boundaries. Red Oceans to Blue Oceans. Red oceans are all the industries in existence today – the known market space. Blue ocean strategy doesn’t aim to out-perform the competition. Scope. Challenges of the Six Fundamental Assumptions. Blue Ocean Strategy by W. Chan Kim and Renée Mauborgne. These frameworks and tools are designed to be visual in order to effectively build the collective wisdom of the company and also to effectively execute a strategy through easy communication. Blue Ocean Strategy frameworks and tools include: strategy canvas, value curve, four actions framework, six paths, buyer experience cycle, buyer utility map, and blue ocean idea index. Using the framework for building a compelling blue ocean strategy, we will apply the Blue Ocean Strategy Canvas to healthcare across three areas: Where the competition is investing. Based on an eponymously titled book, 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. Blue oceans offer firms areas of uncontested competition easing their … The strategy focuses on moving away from an existing market and seaching for new markets. Blue Ocean Strategy-Meaning: Blue ocean strategy means, the market where market boundaries and industry structure can be reconstruct by the actions and beliefs of industry players. Most blue oceans are created from within red oceans by expanding existing industry boundaries. 1. Blue Ocean Strategy Example 1: Automobile Industry. Because, only with a blue ocean strategy and the right entrepreneurial mindset, you can swim into a more profitable and distinct blue … Each industry underwent continuous upheaval, each time spurred by a blue ocean strategy that 1) reduced factors unimportant to buyers, 2) increased factors important to buyers, 3) expanded the market. So NetJets offers its customers one-sixteenth ownership of an aircraft to be shared with fifteen other customers, each one entitled to fifty hours of flight time per year. Background Red ocean = strong competition Blue Ocean Strategy (BOS) aims to create a new market space, by challenging the conventional assumptions about how to compete (business innovation) 14% 38% 39% 62% 61% 86%Sales New products Sales Profits * According to survey of 108 large firms in USA 2 3. Blue ocean strategy is based on over decade-long study of more than 150 strategic moves spanning more than 30 industries over 100 years. Creating blue oceans. Six Paths Framework. Lexikon Online ᐅBlue-Ocean-Strategie: Die Blue-Ocean-Strategie und das damit verbundene Innovationskonzept stellen eine Methode aus dem Bereich des strategischen Managements dar, um neue Märkte mit nachhaltigen und rentablen Geschäftsmodellen zu entwickeln. It aims to make the competition irrelevant by reconstructing industry boundaries. Blue Ocean Strategy is where a company creates a completely new market space (or market category). Strategic Groups. Today, the idea of going where no business has gone before to find commercial success is often referred to as the "Blue Ocean strategy." Specifically, these new markets give a company a very high competitive advantage as well as low price/cost pressure. The Strategic question By focusing on the key factors that lead corporations to trade across alternatives and eliminating or reducing everything else, NetJets created its blue ocean strategy. Budget wines simply offered less of everything.

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