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Companies have long engaged in head-to-head
competition in search of sustained, profitable growth. They
have fought for competitive advantage, battled over market
share, and struggled for differentiation.
Yet in today's overcrowded industries, competing
head-on results in nothing but a bloody "red ocean"
of rivals fighting over a shrinking profit pool. In a book
that challenges everything you thought you knew about the
requirements for strategic success, W. Chan Kim and Renee
Mauborgne content that while most companies compete within
such red oceans, this strategy is increasingly unlikely
to create profitable growth in the future.
Based on a study of 150 strategic moves
spanning more than a hundred years and thirty industries,
Kim and Mauborgne argue that tomorrow's leading companies
will succeed not by battling competitors, but by
creating "blue oceans" of uncontested market space
ripe for growth. Such strategic moves -- termed "value
innovation" -- create powerful leaps in value for both
the firm and its buyers, rendering rivals obsolete and unleashing
new demand.
Blue Ocean Strategy provides a systematic
approach to making the competition irrelevant. In this frame-changing
book, Kim and Mauborgne present a proven analytical framework
and the tools for successfully creating and capturing blue
oceans. Examining a wide range of strategic moves across
a host of industries, Blue Ocean Strategy highlights
the six principles that every company can use to successfully
formulate and execute blue ocean strategies. The six principles
show how to reconstruct market boundaries, focus on the
big picture, reach beyond existing demand, get the strategic
sequence right, overcome organizational hurdles, and build
execution into strategy.
Upending traditional thinking about strategy,
this landmark 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.
Renee Mauborgne is The INSEAD Distinguished
Fellow and a professor of strategy and management.
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