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Blue Ocean Strategy, Expanded Edition: How to Create Uncontested Market Space and Make the Competition Irrelevant Hardcover – Illustrated, January 20, 2015
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OVER 4 MILLION COPIES SOLD
WALL STREET JOURNAL AND BUSINESSWEEK BESTSELLER
RECOGNIZED AS ONE OF THE MOST ICONIC AND IMPACTFUL STRATEGY BOOKS EVER WRITTEN
The global phenomenon that has sold over 4 million copies, is published in a record-breaking 49 languages and is a bestseller across five continents—now updated and expanded with new content. Named by Fast Company as one of the most influential leadership books in its Leadership Hall of Fame. A strategy classic.
In this perennial bestseller, embraced by organizations and industries worldwide, globally preeminent management thinkers W. Chan Kim and Renée Mauborgne challenge everything you thought you knew about the requirements for strategic success. Recognized as one of the most iconic and impactful strategy books ever written, BLUE OCEAN STRATEGY, now updated with fresh content from the authors, argues that cutthroat competition results in nothing but a bloody red ocean of rivals fighting over a shrinking profit pool. Based on a study of 150 strategic moves (spanning more than 100 years across 30 industries), the authors argue that lasting success comes not from battling competitors but from creating "blue oceans"—untapped new market spaces ripe for growth.
BLUE OCEAN STRATEGY presents a systematic approach to making the competition irrelevant and outlines principles and tools any organization can use to create and capture their own blue oceans. This expanded edition includes:
- A new preface by the authors: Help! My Ocean Is Turning Red
- Updates on all cases and examples in the book, bringing their stories up to the present time
- Two new chapters and an expanded third one—Alignment, Renewal, and Red Ocean Traps—that address the most pressing questions readers have asked over the past 10 years
A landmark work that upends traditional thinking about strategy, this bestselling book charts a bold new path to winning the future. Consider this your guide to creating uncontested market space—and making the competition irrelevant.
To learn more about the power of BLUE OCEAN STRATEGY, visit blueoceanstrategy.com. There you'll find all the resources you need—from ideas in practice and cases from government and private industry, to teaching materials, mobile apps, real-time updates, and tips and tools to help you make your blue ocean journey a success.
- Reading age10 years and up
- Print length320 pages
- LanguageEnglish
- Dimensions7.76 x 5.08 x 0.81 inches
- PublisherHarvard Business Review Press
- Publication dateJanuary 20, 2015
- ISBN-101625274491
- ISBN-13978-1625274496
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Editorial Reviews
Review
"one of the bestselling business books of the century" — Financial Times
"Blue Ocean Strategy is the most successful book on business master-planning" — The Economist
"A great read for any leader looking to get a real edge in business and establish a real competitive advantage in the market." — Qantas The Australian Way
Praise for Blue Ocean Strategy:
- A bestseller across 5 continents
- More than 4 million copies sold worldwide
- Translated into 49 languages
- A Wall Street Journal, BusinessWeek, and Fast Company bestseller
- Thinkers50 Strategy Award for Best Business Book of the decade
- The Fast Company Leadership Hall of Fame
- Winner of the Carl S. Sloane Award for Excellence in Management Consulting
About the Author
W. Chan Kim and Renée Mauborgne are Professors of Strategy at INSEAD and Codirectors of the INSEAD Blue Ocean Strategy Institute. They are the authors of the New York Times and #1 Wall Street Journal bestseller, BLUE OCEAN SHIFT and the international bestseller BLUE OCEAN STRATEGY, which is recognized as one of the most iconic and impactful strategy books ever written. Blue Ocean Strategy has sold over 4 million copies, is being published in a record-breaking 49 languages, and is a bestseller across five continents. In 2019, Chan Kim and Renée Mauborgne were named the world's most influential business thinkers by Thinkers50. They are the recipients of numerous academic and management awards around the world including the Nobels Colloquia Prize for Leadership on Business and Economic Thinking, the Carl S. Sloane Award by the Association of Management Consulting Firms, the Leadership Hall of Fame by Fast Company, and the Eldridge Haynes Prize by the Academy of International Business, among others. They are Fellows of the World Economic Forum and the founders of the Blue Ocean Global Network. For more on these authors and their new book, BLUE OCEAN SHIFT, see blueoceanstrategy.com.
Product details
- Publisher : Harvard Business Review Press; Expanded edition (January 20, 2015)
- Language : English
- Hardcover : 320 pages
- ISBN-10 : 1625274491
- ISBN-13 : 978-1625274496
- Reading age : 10 years and up
- Item Weight : 10.2 ounces
- Dimensions : 7.76 x 5.08 x 0.81 inches
- Best Sellers Rank: #2,520 in Books (See Top 100 in Books)
- #3 in Systems & Planning
- #51 in Business Management (Books)
- #71 in Leadership & Motivation
- Customer Reviews:
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About the authors
W. Chan Kim is the Distinguished Professor of Strategy and International Management Emeritus and the Co-Director of the INSEAD Blue Ocean Strategy Institute.
He is the co-author of Beyond Disruption: Innovate and Achieve Growth without Displacing Industries, Companies, or Jobs, and the over 4 million copy global bestseller Blue Ocean Strategy, which is recognized as one of the most iconic and impactful strategy books ever written, and the New York Times, #1 Wall Street Journal, USA Today, and Los Angeles Times bestseller Blue Ocean Shift.
To date, blue ocean strategy and blue ocean shift teaching materials have been adopted by over 2800 universities across the globe. In 2022, Harvard Business Review selected Blue Ocean Strategy as one of the most influential and innovative articles published in Harvard Business Review over the last 100 years. And in 2023 Kim along his colleague Renée Mauborgne were honored as two of the four leading thinkers in the 100 years of Harvard Business Review’s publication for the global impact of their paradigm-breaking body of research and ideas.
Kim has published numerous articles in top academic and managerial journals including Academy of Management Journal, Management Science, Organization Science, Strategic Management Journal, Administrative Science Quarterly, Journal of International Business Studies, Harvard Business Review, MIT Sloan Management Review, The Wall Street Journal, The New York Times, and The Financial Times, among others. The Journal of International Management recognizes Kim as one of the world’s most influential academic journal authors in global strategy.
Kim is the recipient of numerous academic and management awards including the Nobels Colloquia Prize for Leadership on Business and Economic Thinking, the Carl S. Sloane Award by the Association of Management Consulting Firms, the Leadership Hall of Fame by Fast Company, the Eldridge Haynes Prize for the best original paper by Academy of International Business, among others. He along with his colleague Renée Mauborgne was named the most influential management thinker in the world by Thinkers50.
To learn more, visit www.blueoceanstrategy.com.
Renée Mauborgne is the Co-Director of the INSEAD Blue Ocean Strategy Institute and The INSEAD Distinguished Fellow and a professor of strategy at INSEAD. Mauborgne served on President Barack Obama’s Board of Advisors on Historically Black Colleges and Universities (HBCUs) for the President’s two terms. She is also a Fellow of the World Economic Forum. Her book Blue Ocean Strategy, co-authored with W. Chan Kim, has sold over 4 million copies and is recognized as one of the most iconic and impactful strategy books ever written. She is also a co-author of the New York Times and #1 Wall Street Journal bestseller, Blue Ocean Shift.
Mauborgne is ranked #1 most influential management thinker in the world in the Thinkers50 listing of the World’s Top Management Gurus. She is the first woman ever to top the ranking. She was named among the world's top 5 best business school professors in 2013 by MBA Rankings. Mauborgne received the Nobels Colloquia Prize for Leadership on Business and Economic Thinking 2008.
To learn more, visit www.blueoceanstrategy.com.
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🌼 Top 5 Takeaways 🌼
1️⃣ Beyond Competition: "Blue Ocean Strategy" challenges the traditional approach of competing in crowded market spaces. It introduces a concept of creating uncontested market space, allowing organizations to break free from fierce competition and open up new avenues for growth and success.
2️⃣ Value Innovation: The book emphasizes the importance of value innovation, which involves delivering exceptional value to customers while simultaneously reducing costs. By focusing on both differentiation and low cost, organizations can unlock new market opportunities and redefine industry boundaries.
3️⃣ Strategic Framework: "Blue Ocean Strategy" provides a practical framework for identifying and developing blue ocean opportunities. It guides readers through a systematic process of analyzing existing markets, exploring new customer segments, and creating innovative value propositions that disrupt traditional industry norms.
4️⃣ Real-Life Examples: The book features numerous real-life examples and case studies that illustrate successful blue ocean strategies across different industries. These examples offer valuable insights into how organizations have created uncontested market space and achieved significant growth and success.
5️⃣ Implementation Roadmap: In addition to theory and concepts, "Blue Ocean Strategy" offers a roadmap for implementation. It provides practical guidance on how to overcome organizational hurdles, align stakeholders, and execute blue ocean strategies effectively, making it a valuable resource for turning concepts into action.
⭐ Pros ⭐
✅ Fresh approach beyond traditional competition.
✅ Emphasis on value innovation for growth and success.
✅ Strategic framework for identifying blue ocean opportunities.
✅ Real-life examples across various industries.
✅ Implementation roadmap for effective execution.
⛔ Cons ⛔
❌ Requires adaptability and openness to challenge existing business practices.
❌ Some concepts may require careful adaptation to specific industries or contexts.
🌟 In summary, "Blue Ocean Strategy, Expanded Edition: How to Create Uncontested Market Space" is a groundbreaking resource for organizations seeking to break free from the confines of traditional competition and explore new market opportunities. With its strategic framework, real-life examples, and implementation roadmap, it provides valuable insights and practical guidance for organizations aiming to redefine industry boundaries and achieve sustainable growth. Dive into the blue ocean and unleash your organization's untapped potential with this transformative book! 🌟
Blue Ocean Strategy is about applying this same principle in business. When industries become overcrowded, choosing between similar brands becomes harder and harder for consumers, and “people increasingly select based on price.” Buyers won’t stick to their preferred Colgate toothpaste when Crest is on sale, and vice versa. Most businesses focus on trying to differentiate themselves from their competition—perhaps adding mint, whitening capabilities, or fluoride to their toothpaste. This may give them a slight edge, but the competition will catch up. When market space is crowded, our authors refer to it as a red ocean—one that is ‘bloody’ from competition.
Instead, our authors suggest a new strategy called value innovation. Value innovation is when a company introduces new strategies, upgrades, or technologies that are designed to achieve both product differentiation and low costs. It’s not enough to simply create a new product or service, it must also be cost effective for both provider and consumer.
The Canadian circus and entertainment company Cirque du Soleil created a blue ocean by following this strategy. Whereas circuses are geared towards children and theater is for adults, Cirque du Soleil combined them both, “offering people the fun and thrill of the circus and the intellectual sophistication and artistic richness of the theater at the same time.” Traditional circuses featured star performers, animal acts, and three rings. Cirque du Soleil did away with all of these. They kept the artistic music and acrobatic dance, but added in themes and story lines, something more akin to a theatrical production on Broadway. It was designed for viewers of all ages, offering multiple productions instead of the ‘one for all’ show. Through these strategies, Cirque du Soleil created an entirely new market of entertainment seekers: people who would have previously never considered going to the circus or theater on a night out. They brought production costs down without the star names and expensive elephants, which in turn made ticket prices affordable, and simultaneously “invented a new form of live entertainment, one that is markedly different from both traditional circus and theater.”
Instead of focusing on how to keep an existing customer base, blue ocean strategies pursue non-customers and create entirely new markets for themselves. They recognize that the best way to “beat the competition is to stop trying to beat the competition.” Another blue ocean business examined in the book is the Australian wine company [yellow tail]. Traditionally, wine was marketed towards upper-class buyers and thought to be a sophisticated drink, complete with high price tags and fancy looking bottles. [Yellow tail] turned this idea on its head, offering cheap options in non-threatening bottles and making wine easily accessible to the average drinker. Sales for the first few years were phenomenal before competitors inevitably appeared, competed in the market space, and turned their blue ocean into a red one. All blue oceans become red eventually.
All things exist in a state of flux and businesses are no different: they come and go with how society changes over time. In order to stay relevant and profitable, both new and existing businesses must constantly innovate. This process of creating new value, finding new markets, and delivering at an appropriate cost for consumers is what blue ocean strategy is all about.
Don’t be afraid to think outside the box! Whether we are in business or not, differentiating ourselves from the group is a theme we can all embrace. We are always attractive if we are doing the thing that nobody else is doing, in business, and in life.
Reviewed in the United States on September 6, 2023
Blue Ocean Strategy is about applying this same principle in business. When industries become overcrowded, choosing between similar brands becomes harder and harder for consumers, and “people increasingly select based on price.” Buyers won’t stick to their preferred Colgate toothpaste when Crest is on sale, and vice versa. Most businesses focus on trying to differentiate themselves from their competition—perhaps adding mint, whitening capabilities, or fluoride to their toothpaste. This may give them a slight edge, but the competition will catch up. When market space is crowded, our authors refer to it as a red ocean—one that is ‘bloody’ from competition.
Instead, our authors suggest a new strategy called value innovation. Value innovation is when a company introduces new strategies, upgrades, or technologies that are designed to achieve both product differentiation and low costs. It’s not enough to simply create a new product or service, it must also be cost effective for both provider and consumer.
The Canadian circus and entertainment company Cirque du Soleil created a blue ocean by following this strategy. Whereas circuses are geared towards children and theater is for adults, Cirque du Soleil combined them both, “offering people the fun and thrill of the circus and the intellectual sophistication and artistic richness of the theater at the same time.” Traditional circuses featured star performers, animal acts, and three rings. Cirque du Soleil did away with all of these. They kept the artistic music and acrobatic dance, but added in themes and story lines, something more akin to a theatrical production on Broadway. It was designed for viewers of all ages, offering multiple productions instead of the ‘one for all’ show. Through these strategies, Cirque du Soleil created an entirely new market of entertainment seekers: people who would have previously never considered going to the circus or theater on a night out. They brought production costs down without the star names and expensive elephants, which in turn made ticket prices affordable, and simultaneously “invented a new form of live entertainment, one that is markedly different from both traditional circus and theater.”
Instead of focusing on how to keep an existing customer base, blue ocean strategies pursue non-customers and create entirely new markets for themselves. They recognize that the best way to “beat the competition is to stop trying to beat the competition.” Another blue ocean business examined in the book is the Australian wine company [yellow tail]. Traditionally, wine was marketed towards upper-class buyers and thought to be a sophisticated drink, complete with high price tags and fancy looking bottles. [Yellow tail] turned this idea on its head, offering cheap options in non-threatening bottles and making wine easily accessible to the average drinker. Sales for the first few years were phenomenal before competitors inevitably appeared, competed in the market space, and turned their blue ocean into a red one. All blue oceans become red eventually.
All things exist in a state of flux and businesses are no different: they come and go with how society changes over time. In order to stay relevant and profitable, both new and existing businesses must constantly innovate. This process of creating new value, finding new markets, and delivering at an appropriate cost for consumers is what blue ocean strategy is all about.
Don’t be afraid to think outside the box! Whether we are in business or not, differentiating ourselves from the group is a theme we can all embrace. We are always attractive if we are doing the thing that nobody else is doing, in business, and in life.
Top reviews from other countries
There is nothing that disturbs me more than people who struggle in business with their fingers in their ears swimming in a red ocean. In Canada we have a lot of monkey-see-monkey-do businesses that rely on continuous rounds of big government money and meandering from one tech bubbles to the next to survive and it drives me nuts. This book is the solution.
Builds in you pace of mind and soul because it gives you steps how to achieve success in every kind of industry, this strategy is a foundation on which you can build any tipe of business, the process is cristal clear.
Overall, Blue Ocean Strategy is an insightful and inspiring book, filled with practical advice and real-life examples. It's essential reading for anyone looking to create a competitive advantage in a crowded market.