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Blue ocean strategy

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Nitish Raj

Blue Ocean Strategy is about creating new market space and rendering competition irrelevant. It involves reconstructing market boundaries to make the competition meaningless and open up new demand. The key principles of Blue Ocean Strategy are to eliminate and reduce certain factors and raise and create others to open up a new value-cost frontier. By applying these principles, companies can pursue opportunities in untouched market spaces and make the competition irrelevant.

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Blue Ocean Strategy Prepared By : Nitish Raj IIPM ; New Delhi Mentor : Lauren Mathys ; Ph.D. INSEAD Founder Of Blue Crest Consulting(Switzerland) Vice President : Merck Soreno International
Overview 7,50,000 species are yet to be discovered in the world. As there is strategy, so there is industry Not that there is strategy, so there is industry Productivity is not all explained by capital and labour. Innovation and technological change comes from the Unternehmergeist.
Innovation Process which leads an invention from the idea to the market place Joseph Schumpeter Innovation an alliance between research, marketing, instinct, imagination, p roducts and industrial courage Value Innovation is the cornerstone of Blue Ocean Strategy
Innovation In Terms Of Blue Ocean Strategy Innovation when defined in terms of value to the customers is: Value = Utility- Price This is sometimes also called value innovation.
Components Of Blue Ocean Strategy Eliminate Raise Reduce Create
Formulation Principles Of Blue Ocean Strategy Reconstruct Focus Reach Beyond Strategic Sequence Right Overcome Hurdles Build Execution In Strategy
Strategic Sequence Unprecedented Strategic Price Value More Target Cost Environment Friendly
Formulation Process Of Blue Ocean Strategy Visual Awakening Visual Exploration Visual Strategy Fair Visual Communications
Principles Of Blue Ocean Strategy Be Decisive Have a Be clear Irreversible trajectory
Types Of Customers Actual Customers Actively Refused Quickly Moved
Ways To Change Customer Experience Of Utilizing A Product Helping a customer to do things faster or better Contribute to No physical or improve the intellectual environment difficulty Creating a Easy to obtain or particular image use or dispose of for the customer Reduce financial pressure
Secret Of Increasing The Customers Lower the cost to the minimum level Increase the value to the customer Cost Buyer Value To Customer
Six Path Framework For Choosing Industries Using Blue Ocean Strategy When Applying Innovative Idea Alternative Industries (SouthWest Airlines) Strategic Group Industry(French Budget Hotel) Chain Of Buyers Industries(Nove Nordisk Company) Complementary Services/Products Industry(North American Bus Industries) Functional Emotional Appeal Industries(The Body Shop) Time/Trends Industries(Kimberly-Clark )
Hurdles Of Blue Ocean Strategy Cognitive Resource Motivational Political
Implementation Of BOS Value Innovation Tipping Point Leadership(To overcome the 4 hurdles mentioned in previous slide) Fair Process
Fair Process The three E principles of Fair process are: (a) Engagement (b) Explanation (c) Expectation Clarity
Choosing The Right Approach To BOS High Blue Red Red Resources Blue Depends On Blue And Strategic Capabilities Mindset Low Unattractive Little Attractive Attractive
How To Determine It Is A BOS Other Strategy Blue Ocean Strategy Structuralist Reconstructionist Competing Creating Focus On Existing Customer Focus On Non- Customer Premium/ Low Pricing Strategic Cost+ Pricing Target Value Improvement Align people, profit, value proposition
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Blue ocean strategy

  • 1. Blue Ocean Strategy Prepared By : Nitish Raj IIPM ; New Delhi Mentor : Lauren Mathys ; Ph.D. INSEAD Founder Of Blue Crest Consulting(Switzerland) Vice President : Merck Soreno International
  • 2. Overview 7,50,000 species are yet to be discovered in the world. As there is strategy, so there is industry Not that there is strategy, so there is industry Productivity is not all explained by capital and labour. Innovation and technological change comes from the Unternehmergeist.
  • 3. Innovation Process which leads an invention from the idea to the market place Joseph Schumpeter Innovation an alliance between research, marketing, instinct, imagination, p roducts and industrial courage Value Innovation is the cornerstone of Blue Ocean Strategy
  • 4. Innovation In Terms Of Blue Ocean Strategy Innovation when defined in terms of value to the customers is: Value = Utility- Price This is sometimes also called value innovation.
  • 5. Components Of Blue Ocean Strategy Eliminate Raise Reduce Create
  • 6. Formulation Principles Of Blue Ocean Strategy Reconstruct Focus Reach Beyond Strategic Sequence Right Overcome Hurdles Build Execution In Strategy
  • 7. Strategic Sequence Unprecedented Strategic Price Value More Target Cost Environment Friendly
  • 8. Formulation Process Of Blue Ocean Strategy Visual Awakening Visual Exploration Visual Strategy Fair Visual Communications
  • 9. Principles Of Blue Ocean Strategy Be Decisive Have a Be clear Irreversible trajectory
  • 10. Types Of Customers Actual Customers Actively Refused Quickly Moved
  • 11. Ways To Change Customer Experience Of Utilizing A Product Helping a customer to do things faster or better Contribute to No physical or improve the intellectual environment difficulty Creating a Easy to obtain or particular image use or dispose of for the customer Reduce financial pressure
  • 12. Secret Of Increasing The Customers Lower the cost to the minimum level Increase the value to the customer Cost Buyer Value To Customer
  • 13. Six Path Framework For Choosing Industries Using Blue Ocean Strategy When Applying Innovative Idea Alternative Industries (SouthWest Airlines) Strategic Group Industry(French Budget Hotel) Chain Of Buyers Industries(Nove Nordisk Company) Complementary Services/Products Industry(North American Bus Industries) Functional Emotional Appeal Industries(The Body Shop) Time/Trends Industries(Kimberly-Clark )
  • 14. Hurdles Of Blue Ocean Strategy Cognitive Resource Motivational Political
  • 15. Implementation Of BOS Value Innovation Tipping Point Leadership(To overcome the 4 hurdles mentioned in previous slide) Fair Process
  • 16. Fair Process The three E principles of Fair process are: (a) Engagement (b) Explanation (c) Expectation Clarity
  • 17. Choosing The Right Approach To BOS High Blue Red Red Resources Blue Depends On Blue And Strategic Capabilities Mindset Low Unattractive Little Attractive Attractive
  • 18. How To Determine It Is A BOS Other Strategy Blue Ocean Strategy Structuralist Reconstructionist Competing Creating Focus On Existing Customer Focus On Non- Customer Premium/ Low Pricing Strategic Cost+ Pricing Target Value Improvement Align people, profit, value proposition