This is an excellent example of the Blue Ocean strategy at work. You may have inherent creative talent. Almost all of us have been to beaches for a weekend getaway or long vacations! Blue Ocean Strategy (BOS) put forward a new approach which talks about an environment with absolutely zero competition. Make sure you only add parameters that really matter, otherwise you get a distorted image. The theory is based on an example of sailing the large ocean in a competition-free market. Canon created the industry of the personal desktop copier. Blue ocean strategy canvas example. It is a new day and we are back with a new topic of discussion exclusively for you all! What are the factors, which your industry takes for granted, but should be eliminated? Framework . There are several examples of the blue ocean strategy all over the world that have been accepted by many industries to get benefits such as Canon, iTunes, Cemex, Philips, Netjets, Curves, JCDecaux, Quicken, Polo Ralph Lauren, and so on. Those are: raise, reduce, eliminate, and create. There are two ways we can create a Blue Ocean Strategy. Haven’t we? Here we compare 2 Smartphones. D’après les auteurs qui s’appuient sur leurs observations, l’arrivée de concurrents sérieux ne se fera que quelques années plus tard (une dizaine). They are Professors of Strategy at INSEAD, one of the world’s top business schools, and co-directors of the INSEAD Blue Ocean Strategy Institute in Fontainebleau, France. You can safely choose 8 to 10 parameters. If not holidays, we have definitely come across visuals of oceans and seas on social media and televisions. Blue Ocean Strategy and Blue Ocean Shift Kim and Mauborgne have been researching what it takes to break out of the red ocean of competition and generate strong profitable growth for over 30 years. Because of your unique position, you can earn maximum profits until a new competitor enters the market. The Four Actions Framework: A Blue Ocean Strategy companion framework. Stop competing, period! 7 . The authors of the book give us the scheme to apply the strategy that includes the following points: Raise. Blue ocean strategy example – Apple iPod Blue Ocean Strategy Example – Cirque du Soleil. The Blue Ocean Idea Index is part of the overarching strategy and lets companies test the commercial viability of ideas. The Ordinary’s success is a g r eat example of Blue Ocean Strategy at work. Blue Ocean Strategy The four questions that are critical for developing blue ocean strategy: 1. Blue Ocean Strategy . Blue Ocean Strategy Tools: The Four Actions Framework and ERRC Grid . A brand new product or service. The phrase “blue ocean strategy” describes a market strategy that differs from the conventional approach of entering an established market and attempting to compete with existing players. Six sessions and you'll have the training to transcend the competition. The strategy includes a variety of analytic tools and frameworks to help you distance yourself from this red ocean of competitors and create a “blue ocean” of undisturbed market space where it is possible to operate without competition. The six paths framework in formulating blue ocean strategy are (1) Look across alternative industries, (2) Look across strategic groups within industry, (3)Look across buyer groups, (4) Look across complementary product and service offerings, (5)Look across the functional-emotional orientation of an industry and (5)Look across time to shape trends. Finally, the Blue Ocean Paradox is discussed. Understanding Blue Ocean Strategy with Examples, Pros, Cons & More: Hello readers! Summary of the first four chapters of the international bestseller Blue Ocean Strategy. Proven over decades of research, Blue Ocean Strategy tools and frameworks lead to value innovation. Eliminate. By creating this plot, you can find imbalances in your strategy, such as only raising and creating (which leads to overengineering and “trying to be the best”) or only eliminating and reducing (which leads to mere price competition). Blue Ocean Strategy’s goal is to make the competition irrelevant. Although these three groups may overlap, they often differ. Systematize Creativity. These frameworks and tools are designed to be visual in order to effectively build the collective wisdom of the company and also to effectively execute a strategy through easy communication. Examples of Blue Ocean Strategy. Take your strategy from a grand plan to the real deal with these free strategic planning templates. Blue Ocean 4 Actions Template was created by W. Chan Kim and Renée Mauborgne. One is by launching or introducing a completely new product, service, or concept. Blue Ocean Strategy Framework & The Ordinary. 3 Examples of Businesses Using the Blue Ocean Strategy. You can think of these parameters for example during a brainstorm. Blue Ocean Strategy frameworks and tools include: strategy canvas, value curve, four actions framework, six paths, buyer experience cycle, buyer utility map, and blue ocean idea index. Next up is the uniquely brilliant example of Cirque du Soleil, the legendary entertainment company that performs in over 300 cities for more than 150 million spectators in a … Most entrepreneurs do not. Chan Kim and Renee Mauborgne derived the term “Blue Ocean Strategy” to explicate this new business model. https://studiousguy.com/blue-ocean-strategy-definition-and-examples Create. What features of the existing industry should be eliminated? About the Blue Ocean 4 Actions Framework template Who created Blue Ocean 4 Actions Template. Canon. After having dealt with the Blue Ocean metaphor as well as having clarified the concept of Value Innovation, the Chapter moves on by describing the basic analytical tools and frameworks that characterize the Blue Ocean Strategy. Background Applications . Blue Ocean Strategy Examples. Bien sûr des imitateurs seraient intéressés par la valeur entreprise apportée par cette stratégie. To plot the available consumer products in a marketplace against the company’s ability to provide value and thus be competitive over time. Follow four action blue ocean strategy framework. The traditional circus catered to kids. They uncovered a systematic process of achieving growth that works whether you are a cash-strapped startup, non-profit, small business, or a large, established company. As we’ve already mentioned, there are a lot of businesses that decided the Blue Ocean strategy was the best for them. The Blue Ocean Strategy offers users a framework for creating uncontested market space and change the focus from the current competition to creation of innovative value and demand. What new features c Among those tools, we will be focusing on the ERRC grid. This happened, for example, when Apple created its iTunes music download service in 2003. Here are 3 of the most notable ones. 1.1 Introduction This process helps refine ideas and identify opportunities with the most potential, minimizing risk. What can be improved in the existing industry? Rather than competing in an existing market with your product, create a space where you enjoy hundred percent monopoly. The four action framework points out four key actions to take into account to refine existing products. But nowadays, there are literally tons of entertainment options kids can choose from (video games, anyone?). Framework Implementation . Considerations Examples ∗ Blue Ocean Strategy simply states that a unique competitive position is an advantage if one understands it properly. 1. A good blue ocean strategy has items in each of the four grids. What results did the competition with other companies cause and can we remove them? The objective of this paper is to research the validity and reliability of the Blue Ocean Strategy with a two way approach. Hey guys, I am back with yet another unique & interesting marketing concept: "Blue Ocean Strategy". The theory was introduced in 2005 by Professors W. Chan Kim and Renee Mauborgne. For example, "competing factors" in blue ocean strategy are similar to the definition of "finite and infinite dimensions" in Funky Business. Blue Ocean ou stratégie Océan Bleu est la stratégie de l’Innovation-valeur. As Kim and Maubourgne write in Blue Ocean Strategy, The purchasers who pay for the product or service may differ from the actual users, and in some cases, there are important influencers as well. After you define the three tiers of non customers, the idea is that you poll these noncustomers and find out what it would take to purchase your product or service. Now, to bring it to life, we’re looking at 3 examples of companies that have used the blue ocean strategy framework to drive growth and innovation including the Nintendo Wii, Yellow Tail and Cirque de Soleil. Examples of Blue Ocean Strategies Netflix The first company that used the blue ocean strategy a popular subscription-based streaming service. Reduce. If you are creative, you will learn ways to systematize and test that creativity. When they do, they frequently hold different definitions of value. Blue Ocean Strategy How to Create Uncontested Market Space and Make the Competition Irrelevant Facilitators : Yip Khai Biau (ymike27@hotmail.com) & Lieu Yoke Sun Group/Presentation Title Agilent Restricted Date ##, 200X Home | Corporate Strategy Blog | Blue Ocean Strategy Tools: The Four Actions Framework and ERRC Grid. This question helps you to think about removing certain elements which often organizations within your industry utilize as their competitive differentiators. The strategy states that if you want your business to get into the ‘blue ocean’, you have to create a value innovation. The circus industry is no longer as popular as it once was. Made by Group D of the Minor Global Trendwatching 2015 When and why is this tool used? With the increasing popularity of the Internet, Netflix has become a streaming service with a wide choice of films and TV series Later they launched their shows and movies available only on their platform. iTunes solved the problem of recording industries when it started the business. Blue Ocean Strategy provides a framework to: ∗ Grow market share while minimizing risk ∗ Succeed in entrepreneurship . Here are a couple of examples of companies who’ve successfully implemented the blue ocean strategy to grow their business: Cirque du Soleil. The concept of the blue ocean strategy was set out in a book of the same name, by W. Chan Kim and Renee Mauborgne in 2005. Blue Ocean Strategy - Summary and Examples 1. Nintendo Wii. You have a framework to test ideas. Creating a Blue Ocean Strategy. Tweet. https://www.shortform.com/blog/blue-ocean-strategy-examples The first example of blue ocean strategy comes from computer games giant, Nintendo, in the form of the Nintendo Wii. Just as blue ocean strategy claims that a red ocean strategy does not guarantee success, Funky Business explained that "Competitive Strategy is the route to nowhere".