What is ItBlue Ocean Strategy is a book written by W. Chan Kim. The book illustrates the high growth and profits an organization can generate by creating new demand in an uncontested market space.
Examples of B.O.S
Cirque Du Soleil
Google
Apple Inc.
Starbucks
6 Principles of B.O.S
"Reconstruct Market": Re-evaluate the premises that form your industry's assumptions and shape your company's business model.
"Reconstruct Market": Re-evaluate the premises that form your industry's assumptions and shape your company's business model.
"Focus on the Big Picture, Not the Numbers": Keep your eye on the overall view and dont get lost in the statistics.
"Reach Beyond Existing Demand": Businesses naturally focus on current customers, a process that invariably leads to greater market segmention analysis.
"Get the Strategic Sequence Right": Execute your strategy sequentially to achieve your "value innovation."
"Overcome Key Organizational Hurdles": Successful execution demands that your company must resolve internal department differences
"Build Execution into Strategy": Reduce your management risk by incorporating Blue Ocean implementation into your company's ongoing processes.
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