“Go where profits and growth areand where the competition isn’t”
• BOS is the result of a decade-long study of 150 strategicmoves spanning more than 30 industries over 100 years(1880-2000).•BOS is the simultaneous pursuit of differentiation and lowcost.•The aim of BOS is not to out-perform the competition in theexisting industry, but to create new market space or a blueocean, thereby making the competition irrelevant.•BOS covers both strategy formulation and strategy execution.•The three key conceptual building blocks of BOS are: valueinnovation, tipping point leadership, and fair process.
Compete in existing market space Create uncontested market spaceBeat the competition Make competition irrelevantExploit existing demand Create and capture new demandMake the cost-trade-off Break the cost-trade-offAlign the whole system of a Align the whole system of acompany’s activities with its company’s activities in pursuit ofstrategic choice of differentiation and low costdifferentiation or low cost
For blue ocean strategy formulation•The Strategy Canvas•The initial litmus test for BOS: focus,•divergence, compelling tagline•The Four Actions Framework•Eliminate-Reduce-Raise-Create Grid•The Six Paths Framework•Buyer Utility Map•Buyer Experience Cycle•Price Corridor of the Mass model•Four Steps of Visualizing Strategy•Process Pioneer-Migrator-Settler Map•Three Tiers of Noncustomers Framework•The Sequence of Blue Ocean Strategy
•Overcome key organizational hurdles.•Build execution into strategy