Blue Ocean Strategy -- Beyond Industry Competition, Creating a New Market

Author: Jin (Korea), Moalone (USA), translated by Ji Mi
Publisher:
Publish Date: 2005-06-01
Features: To seek sustainable, profitable growth, companies often engage in fierce, head-on competition with their rivals. They fight for competitive advantage, market share, and differentiation. However, in today's overly crowded industrial markets, such direct competition can only trap companies in the bloody "red ocean"—a fiercely competitive, known market space—where they scramble for increasingly shrinking profit margins. In this book, the authors challenge all the well-known laws of strategic success. They argue that lingering in the red ocean of competition will make it increasingly difficult to create future profitable growth. Based on their research of 150 strategic actions spanning over 100 years and involving more than 30 industries, the authors propose that to win tomorrow, companies should not compete with rivals but instead create the "blue ocean"—a new market space with vast untapped demand—to pave the way for growth. This strategic action, known as "value innovation," can create a leap in value for both companies and buyers, enabling companies to completely outdistance their competitors and unlock new demand. Blue Ocean Strategy provides a systematic approach for companies to break free from competition. In this groundbreaking book that challenges traditional strategic thinking, the authors present a proven analytical framework and tools to help companies successfully create and capture blue oceans. Through their analysis of numerous strategic actions across various industries, the authors also propose six principles for successfully formulating and executing blue ocean strategies. These principles guide companies on how to redefine market boundaries, focus on the bigger picture, move beyond existing demand, follow a logical strategic sequence, overcome organizational barriers, and embed strategy execution as part of the strategy itself. Since its publication by Harvard Business Press in February 2005, Blue Ocean Strategy has generated significant global buzz and has been honored as a "Wall Street Journal Bestseller," "USA Bestseller," and "Global Bestseller." To date, it has been translated into 24 languages, shattering the record for international rights sales in Harvard Business Press history.