Crazy Read 2018 – Blue Ocean Strategy
What I Loved
I loved the idea of the book, the concept of not using your competitors as focus to building business but looking at what’s missing and other areas of industry to find the direction your company should be going in.
Loved the very basic “Red Ocean Traps” in the back from page 216 on.
On page 12 it talks about Value Innovation which I loved.
“What consistently separates winners from losers in creating blue oceans was their approach to strategy.
The companies caught in the red ocean followed by a conventional approach, racing to beat the competition by building a defensible position within the existing industry order.
The creators of blue oceans, surprisingly, didn’t use the competition as their benchmark. Instead, they followed a different strategic logic that we call value innovation.
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 buyers and your company, thereby opening up new and uncontested market space.”