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© 2010 Stephen Philip Means;
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W. Kim and Renee Mauborgne
Wow! I loved this book. It gave me a perspective on which companies from the
past and which companies today create themselves in an elevated category
higher than all the rest. Some corporations are stuck in the price war syndrome
while others soar so far beyond and are so successful they can’t be compared.
Why is that?

                   Red Oceans vs. Blue Oceans

Some companies exist in self created oceans filled with sharks and barracudas
that attack each other through competition. This fills their relations with blood
making them red oceans. Other companies devise and develop a system
singular to the products and services they are offering. They are so far ahead
of other companies that they swim alone in a clear field, in a “Blue Ocean.” The
purpose of
Blue Ocean Strategy is to provide a strategy to put your company
so far ahead of the competition, that there is no competition.

 How to do this?
Value innovation is the key. The authors say:

“Value innovation is the cornerstone of blue ocean strategy. We call it value
innovation because instead of focusing on beating the competition, you focus
on making the competition irrelevant by creating a leap in value for the buyer
and your company, thereby opening up new and uncontested market space.”

In effect, your company finds, opens, and develops the blue ocean and then
swims uncontested through it because your service or products are new and
they provide outstanding . . . or at least considerably more . . .
value . . . than
anyone else. There is simply no competition.

               The Blue Ocean Strategy

How to reconstruct market boundaries to break from competition and create
blue oceans.

                         The Six Paths

•        Look across alternative industries. What are the alternative industries to
your industry?  Why do customers trade across them?

•        Look across strategic groups within industries. Why do customers trade
up for a higher group? Why do they trade down for a lower group?

•        Look across the Chain of Buyers. What is the chain of buyers in your
industry? Which group does your industry typically focus on? Can you unlock
new value?

•        Look across complementary product and service offerings. Untapped
value is hidden in complementary products and services. What is the context in
which your product or service is used?

•        Look across functional or emotional appeal to buyers. If you compete on
emotional appeal, what elements can you take out to make it functional? If you
compete on function, what can you take out to make it emotional?

•        Look across time. What trends will impact your industry. Are they
reversible or evolving in a true direction? Can you open a new customer utility?

Using this strategy companies can invent or reinvent themselves. Using value
innovation they create the blue ocean and swim beyond the competition.

Blue Ocean Strategy is now a classic must read book. It’s a fascinating,
enjoyable read. If you don’t read this book you will be left behind. The world is
changing very, very fast. I give this book five stars.
It really is a book you
have to read.
Buy it.

Value innovation is what we’re about at our company. We develop new products
and solutions. We invite you to follow us as we develop our ‘Blue Ocean’

Wisdomgame.  . . .
To Entertain, Educate, and Enlighten. . . . Serious Fun!
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