Price and features, for example, tend to be common ones.Īs a result, everyone tends to look the same over time, and they compete fiercely to bite off their piece of the market, thus creating a bloody “red ocean.” – Essentially, it’s an approach to strategy based on the idea that most organizations within any field or industry compete on the same basic factors. We actually highlighted the book in the past as one of our Emphatically Recommended Readings for the Leading Learning Symposium because strategy has been a major focus at the symposium. The other reason is we feel it is such a practically useful book for organizations seeking to formulate a strategy for any sort of business, including learning businesses. A classic of business writing, Blue Ocean Strategy is creative thinking and problem solving at its best.Part of the reason we want to talk about Blue Ocean Strategy is because the follow up to that book – Blue Ocean Shift – has recently come out. This would be a "blue ocean" market, giving the winemaker a huge advantage, which they could exploit by creating a wine that appealed to the tastes of a beer-drinking demographic. Chan and Mauborgne argue, for example, that a wine company might decide to start appealing to a group previously uninterested in wine.
Companies should avoid confronting competitors in crowded marketplaces, what they call "red oceans," and instead seek out new markets, or "blue oceans." Once the blue oceans have been identified, companies can get down to the task of creating unique products which exploit that market.
The authors' creative leap is to suggest one can beat the competition by not competing. In the normal framework, competition is a zero-sum game: if there are two companies competing for the same market, as one does better, the other has to do worse.
Chan Kim and Renée Mauborgne tackle the central problem facing all businesses: how to perform better than your competitors? Their solution involves taking a creative approach to the normal view of competition.
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