Blue ocean strategies: What are they?
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This is a presentation on Blue Ocean Strategies (BOS) that explains to the viewer the basic concepts of BOS and what exactly is a BOS. Most of the information is taken from the book Blue Ocean Strategy: How To Create Uncontested Market Space And Make The Competition Irrelevant (W. Chan Kim, R. Mauborgne, 2005).
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Blue ocean strategies: What are they?
- 1. Blue Ocean Strategies What are they?
- 2. The Definition “Blue Ocean Strategy (BOS) challenges companies to break out of the red ocean of bloody competition by creating uncontested market space that makes the competition irrelevant” “Instead of dividing up existing and often shrinking demand and benchmarking competitors, blue ocean strategy is about growing demand and breaking away from the competition” W. C. Kim, R. Mauborgne. (2005). Blue Ocean Strategy. Massachusetts : Harvard Business School Publishing Corporation
- 3. Red Vs Blue • All industries in existence today • (Known market space) • Boundaries defined & accepted • Crowded market • Prospects for profits & growth are reduced • Products become commodities • Cutthroat competition turns the • Ocean (Market) red & bloody • Untapped market space • Demand creation • Growth opportunities • Same opportunities created well beyond • existing boundaries • Most created from within red oceans by • expanding industry boundaries • Competition is irrelevant • No rules are set • Largely uncharted It seems Red Oceans are safe and Blue Ocean are risky
- 4. BUT…
- 5. Realities are different The reality is that industries never stand still. They continually evolve. • Operations improve • Markets expand • Players come & go History teaches us that we have hugely underestimated the capacity to create new industries Therefore being Risky is actually Safer
- 6. Why Strategic Thinking in businesses is still focusing on Red Ocean Strategies? Heavy influence by its roots from military strategy Chief Executive “Officers” “Headquarters” “Troops” in the “front lines”
- 7. Therefore Focusing on Red Ocean strategies is accepting the key constraining factors of War with limited terrain, the need to beat an enemy to succeed and deny the distinctive strength of the business world: The capacity to create new market space that is uncontested with VALUE INNOVATION
- 9. Case Study Example Cirque du Soleil Blending an opera and ballet with circus format while eliminating start performer and animals
- 10. Case Study Example NetJets Fractional Jet ownership
- 11. Case Study Example Southwest airlines Offering flexibility of bus travel at the speed of air travel using secondary airports
- 12. What if the “Ocean” becomes crowded? INNOVATE!!!