Blue Ocean Strategy Essay

694 words - 3 pages

BlueOceanStrategy:
From Theory to Practice

W. Chan Kim Renée Mauborgne

or twenty-five has years, competition been at theheartofcorporate one without Today, can hardly speakot strategy involving strategy. thelanguage competition: of competitive strategy, competitive and the benchmarking, building competitive advantages, beating Suchfocuson thecompetition traces backto corporate competition. strategy's in The is roots military strategy. very languageofcorporate strategy deeply in imbued withmilitary referenceschief executive "officers" "headquarters," on the"front and fighting a defined over battlefield.1 lines," "troops" Industrial to (IO) organization economics gaveformal expression ...view middle of the document...

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CALIFORNIA MANAGEMENT REVIEW

VOL 47, NO. 3

SPRING 2005

105

BlueOcean Strategy: From Theoryto Practice

of the has Notsurprisingly, result been a fairly goodunderstanding how ecoin from the to compete markets, analyzing underlying skillfully established a of of to nomicstructure an existing industry choosing strategic position low The toolsand frameworks costor differentiation or focus.4 arsenalofanalytic anchored from five the force framework thevalue chainsuccessfully to ranging But at competition thecoreofstrategy. shoulditbe? no. Ourresearch overthelastfifteen yearssuggests Ofcoursecompetition and on of matters. However, focusing thestrategies competition, companies by - and,we wouldargue,morelucrative scholars have ignored very a important but the This not aspectofstrategy. involves competing, making competition are a irrelevant creating new market spacewherethere no competitors by whatwe calla "blueocean."

Blue Oceans
of of a universe composed twosorts oceans:redoceans Imagine market in This all and blue oceans.Red oceansrepresent theindustries existence today. not Blue oceansdenoteall theindustries in existence is theknownmarket space. Thisis theunknown market space. today. and are and In theredoceans,industry boundaries defined accepted, the Herecompanies to outperform rulesofthegameare known.5 try competitive focusof demand.The dominant shareofexisting their rivals graba greater to red workoverthepasttwenty-five has been on competition-based years strategy for As ocean strategies.6 themarket prospects spaceofredoceansgetscrowded, and becomecommodities,...

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