Blue Ocean Strategy
Blue Ocean Strategy
Abby Taylor
HMI 408-B1
Kendall College
10 May 2014
Executive Summary
“Have you caught the wave?” For those who have not heard this quote before, it is associated with a strategic strategy known as Blue Ocean Strategy; Blue Ocean was coined by W. Chan Kim and Renee Mauborgne. In this strategy, the authors use the term “blue ocean” to get people to envision creating their own “blue oceans” which is often thought of as untouched and deep. This is the exact opposite of the beliefs of other strategies like Porter, D’Aveni, and Moore who work within the current market to beat the competitors. In the past ten weeks, this class has tested me by having to read challenging articles that presented several different strategic theories to us. While all of the theories brought us interesting and valuable information, the one that resonated most with me and stuck out the most was the Blue Ocean Strategy. I have always been someone who enjoys a challenge and I feel that while this theory is a challenge, it has the most potential to bring organizations the greatest amount of success. To fully understand why I selected this theory opposed to one of the other ones, I feel that first I need to explain exactly what Blue Ocean Strategy is and who has used it and gained enormous amounts of success.
While there are many people who believe taking down the competition is the best plan for their company and will result in huge success, Blue Ocean Strategy does not even factor it into their decision making process as a way to reach success. To discuss Blue Ocean Strategy, we also have to understand Red Ocean Strategy. Red oceans are all other strategies that are currently trying to out-compete one another in hopes of being the one on top. The first thing that comes to mind when I think of a situation such as this is the results of Apple first launching the iPod. All a sudden
Abby Taylor
HMI 408-B1
Kendall College
10 May 2014
Executive Summary
“Have you caught the wave?” For those who have not heard this quote before, it is associated with a strategic strategy known as Blue Ocean Strategy; Blue Ocean was coined by W. Chan Kim and Renee Mauborgne. In this strategy, the authors use the term “blue ocean” to get people to envision creating their own “blue oceans” which is often thought of as untouched and deep. This is the exact opposite of the beliefs of other strategies like Porter, D’Aveni, and Moore who work within the current market to beat the competitors. In the past ten weeks, this class has tested me by having to read challenging articles that presented several different strategic theories to us. While all of the theories brought us interesting and valuable information, the one that resonated most with me and stuck out the most was the Blue Ocean Strategy. I have always been someone who enjoys a challenge and I feel that while this theory is a challenge, it has the most potential to bring organizations the greatest amount of success. To fully understand why I selected this theory opposed to one of the other ones, I feel that first I need to explain exactly what Blue Ocean Strategy is and who has used it and gained enormous amounts of success.
While there are many people who believe taking down the competition is the best plan for their company and will result in huge success, Blue Ocean Strategy does not even factor it into their decision making process as a way to reach success. To discuss Blue Ocean Strategy, we also have to understand Red Ocean Strategy. Red oceans are all other strategies that are currently trying to out-compete one another in hopes of being the one on top. The first thing that comes to mind when I think of a situation such as this is the results of Apple first launching the iPod. All a sudden
References: Blue Ocean Strategy . (2014). Retrieved from: http://www.blueoceanstrategy.com/concepts/faqs/ D 'Aveni, R. A. (1998). Waking up to the new era of hypercompetition. Washington Quarterly, 21 (1): 183–195. Hamel, G., & Prahalad, C. K. (1990). The core competence of the corporation. Harvard Business Review, 68 (3): 79–91. Kim, C. W., & Mauborgne, R. (2004). Blue ocean strategy. Harvard Business Review, 82 (1): 76–84. Osterwalder, A. (2007, January 05). Nintendo 's Blue Ocean Strategy: Wii. Retrieved from: http://businessmodelalchemist.com/blog/2007/01/nintendos-blue-ocean-