![]() ![]() When you focus on these principles, you can align value, profit, and people.Ī red ocean is any known market space. Approach: To get the strategic sequence right, a business must understand the basics of how to create and capture blue oceans.Demand creation: An enterprise has to reach beyond the existing industry demand to identify new customers.Value innovation: To find a blue ocean, a company has to think outside the box of how value is typically generated in their industry.Market creation: By expanding the boundaries of an existing space or industry, you can create a new market.This business strategy is grounded in four key principles: The 4 Principles of a Blue Ocean Strategy ![]() Thus, a blue ocean strategy offers the potential for high profits and business growth. A blue ocean offers untapped opportunities for an enterprise to innovate new services or products. In the context of business strategy, a blue ocean is a new market space that has little to no competition. Learn more about this business strategy and how you can implement it in your organization to create new and profitable market space. The book quickly became a New York Times and Wall Street Journal bestseller and is widely used in business school courses and programs. In 2004, Kim and Mauborgne published a book titled Blue Ocean Strategy which outlines the principles and applications of their theory. Have you heard your colleagues reference “Blue Ocean Strategy?” First coined in the early 2000s, Blue Ocean Strategy is a marketing framework introduced by INSEAD professors W. ![]()
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