BLUE OCEAN STRATEGY EXPANDED EDITION PDF
The present second edition of the Color Atlas of Pharmacology goes to print six years after Color Atlas of Pharm Red Ocean vs Blue Ocean Strategies. Blue Ocean Strategy, Expanded Edition: How to Create Uncontested Market Space and Make the Competition Irrelevant. Blue Ocean Strategy, Expanded Edition and millions of other books are available for site Kindle. In this perennial bestseller, embraced by organizations and industries worldwide, globally preeminent management thinkers W. Chan Kim and Renée Mauborgne challenge everything you.
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Blue ocean strategy: how to create uncontested market space and make the competition .. system. The new system expanded the ten SIC industry sectors into. Blue Ocean Strategy, Expanded Edition: How to Create Uncontested Market Space and Make the Competition Irrelevant Click button below to. INSEAD. CONTENTS. Published by INSEAD Blue Ocean Strategy Institute in Fall , . The expanded edition of the book adds two new chapters, expands.
Reduce the number of parts or steps needed in manufacturing. Change materials, like Swatch from metal to plastic.
Partner: offload production and distribution activities to capable partners. This effectively lowers fixed costs and increases marginal costs.
Partnering also spurs competition to lower prices to win your contract. IKEA outsources manufacturing and materials. Change the pricing model of the industry. This changes the form of your target price to attract more customers. A pricing innovation in your industry is often standard in another industry. Consider going from paid to freemium, like many software services. From Utilty, Price, and Cost to Adoption Since your company has stakeholders used to the status quo, changing your strategy may provoke them.
Handling their concerns is a first barrier to adopting your blue ocean strategy. Employees They fear for their jobs and responsibilities.
Prepare them for change and allow changes in roles to the extent possible. Business Partners They fear disrupting an existing profitable relationship. Communicate how changing the strategy will increase profits further. General Public Anticipate common objections to your strategy and proactively message to own the conversation. Monsanto could have educated on the safety of GMOs and utility to lower food costs, and pushed for labeling.
Part 3 of this Blue Ocean Strategy summary will go much more into detail on handling the people side of implementation. Are there compelling reasons to download your offering? Price Is your price easily accessible to the target mass of downloaders? Cost Does your cost structure meet the target cost?
Adoption Have you addressed adoption hurdles up front? Philips CD-i is an example. Pricing was low — the monthly fee was the same as a magazine, putting it in impulsive download territory.
Adoption — it partnered with handset manufacturers to stay ahead of competitors and attracted content providers onto the network. Part Three: Executing Blue Ocean Strategy The final section of this Blue Ocean Strategy summary covers the common hurdles of executing your blue ocean idea, particularly in terms of breaking status quo bias and securing worker relations. Chapter 7: Overcome Key Organizational Hurdles Organizations undergoing a strategic shift face four hurdles: Cognitive — recognizing the need for change Limited resources Motivation — inspiring real action Politics The conventional wisdom on changing an organization is to deploy strength proportional to the size of the change needed.
To get a big change, mobilize massive effort. Blue Ocean Strategy argues for a more targeted method, to focus your limited resources on the areas of greatest disproportionate leverage.
To illustrate this, the book uses the example of Bill Bratton, NYPD police chief who transformed New York City from a cesspool of crime to widespread safety within a few years. Instead, make people see the reality firsthand. Make them touch, see, and feel the problem so they can come to their own conclusions about the need for change Bratton forced top brass to ride the subway everyday to see the graffiti, gangs, and aggressive beggars firsthand. In a previous role, he opposed a decision to download smaller, more efficient squad cars.
Bratton invited his general manager for a tour of his squad, picking him up in one of the smaller cars. After two hours of driving, with little legroom up front and Bratton struggling with his police gear, the manager conceded. Larger cars were ordered.
Meet dissatisfied customers directly. But residents were still dissatisfied, and Bratton forced chiefs to meet with customers citizens.
The police learned citizens felt harassed by minor offenses like graffiti and drunkards.
This prompted an overhaul of police priorities. Resource Hurdle An organization in need of strategic change often has a resource shortfall.
In response, managers often curtail their ambitions or fight for resources. Instead, consider finding areas of greatest leverage. Reallocate to hot spots and away from cold spots Where are your resources getting the highest value per dollar and the lowest? Focus resources on the areas with highest impact. Bratton wanted to keep subways safe, but staffing every station and car was untenable.
Analysis showed that most crimes occurred on only a few stations and lines.
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He reallocated officers to these areas, where they had a disproportionately large impact on crime metrics. Bratton reallocated more staff to narcotics and gave them round-the-clock coverage. A cold spot — area of great inefficiency — was booking criminals at the station, requiring 16 hours of officer time per criminal.
This freed up manpower to conduct more patrolling. Horse trade — match complementary resource needs between teams. When resources are low, departments tend to claw whatever resources they can get. This leads to inefficiencies where two departments each crave something the other has. Another department had the opposite problem. By facilitating this trade, he gained credibility with both departments. Ask your teams what resources they need. Then redistribute resources so everyone wins.
Motivational Hurdle Your team needs to understand the need for a change and how to accomplish it. Often managers rely on top-down communication on grand visions. Instead, once again find the areas of greatest leverage. Find kingpins, the key influencers in the org. If you win over the kingpins, the people they influence will come aboard too. Bratton focused on his 76 precinct heads, each of whom managed police officers. Place kingpins in a fishbowl. Influencers are watched by many, and so their behavior needs to be transparent.
They need to be held accountable for executing the new strategy. Precinct heads were required to justify increases or decreases in performance and share their plans. Public exposure causes social pressure to perform, since no manager wants to let down other managers or be shamed publicly.
It prevents behind-the-door excuses, like blaming other managers for their shortcomings. Public discourse enables sharing of notes and strategy. People feel engaged intellectually and emotionally, believing in a fair process. Atomize the goals. A massive strategic vision can seem daunting — how in the world can it be accomplished within a short time frame?
Break up the goal into small atomic blocks. Political Hurdle Organizations have internal battles to get things done. Resistors who doubt your strategy can sap your momentum. Secure a consigliere on your team This is a respected senior insider who knows how things work and can navigate land mines.
She knows the key players, predicts how they react, and helps broker agreements. Leverage your angels and silence your devils Identify your supporters and detractors. Mobilize your supporters to build a broad base of support and go on the offense before the detractors have a chance to collect.
[PDF] Blue Ocean Strategy, Expanded Edition: How to Create Uncontested Market Space and Make the
Bratton faced resistance from the courts, who worried about their capacity to handle all the crime the police were bringing in. Faced with public humiliation, the courts backed down. If your blue ocean strategy upends the status quo, your team will be scared — for their jobs, their position in the organization.
The further removed a person is from the strategic planning process, the more scared they will be. The more scared the team is, the more likely they are to distrust, refuse to cooperate, and even sabotage. Because your team mobilizes your strategy, you need to communicate clearly. The further removed they are from strategic decision making, the more they need to be communicated to.
Blue Ocean Strategy highlights the importance of procedural justice — people care as much about the fairness of the process as they do about the ultimate outcome. Explanation Help people understand why decisions are made as they are. If layoffs have to happen, state this early and clarify the impact to control the messaging.
Best Book Summary + PDF: Blue Ocean Strategy
Clear expectations Make clear how employees will be evaluated. Specify what successful goals are, and what constitutes failure. With this knowledge, workers can focus on execution rather than angst. Now consider the inverse of fair process, where decisions are made behind closed doors with no team input; strategies are stated and not explained; and expectations are unclear. What do you expect to happen?
The good old days were just fine — why do we need to change?
Is the company in trouble? Workers will band together and feel their only recourse is to dig in and entrench against change. Once the new strategy is announced, skepticism has already been built in for weeks or months. Workers no longer trust management to care. They rebel and sabotage the strategy, hoping its failure will lead management to return to the happy old days. Obviously this should be avoided. Build fair process into your execution plan from the very beginning.
Like this summary? Have too much to read? You'll love my new book summary product Shortform. Even better, it helps you remember what you read, so you can make your life better. What's special about Shortform: The world's highest quality book summaries - comprehensive, concise, and everything you need to know Interactive exercises that teach you to apply what you've learned Discussion communities - get the best advice from other readers Get the world's best book summaries now Chapter 9: Align Value, Profit, and People Propositions As discussed throughout Part Two of this Blue Ocean Strategy summary, a successful blue ocean strategy requires three pillars: 1 clear customer value, 2 profitability through strategic pricing and cost reduction, and 3 alignment with stakeholders like employees and partners.
Together, these elements have enabled us to bring the theory into an educaNonal context and make it relevant to each parNcipant and their posiNon in the market. INSEAD itself has been a great blue ocean school from its founding as the original internaNonal business school in We pioneered the one-year intensive MBA, the use of simulaNons to complement case studies, and the idea of customised corporate educaNon.
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One example is our success in fully integraNng our global campuses to provide an unparalleled internaNonal MBA educaNon. We are focusing iniNally on the corporate market, where there is a huge non-customer opportunity with some 95 percent of the market currently being unserved.
We see a bright, blue future lled with all the rewards that Chan and Renes pathbreaking model promises for those bold and wise enough to pursue them. Chan Kim and Rene Mauborgne brought to the world Blue Ocean Strategy BOS based on their decade-long research on key strategic moves spanning more than years and 30 industries. This is a central tenet of Blue Ocean Strategy. Chan and Renes research shows that too many companies let compeNNon drive their strategies. As a result, companies Nme and abenNon get focused on benchmarking rivals and responding to their strategic moves, rather than understanding how to deliver a leap in value to downloaderswhich is not the same thing.
What is Blue Ocean Strategy? Blue Ocean Strategy breaks from this compeNNve stranglehold. They observed that 4 companies that break away from the compeNNon pay lible heed to matching or beaNng rivals or carving out a favourable compeNNve posiNon. Their aim was not to outperform compeNtors. It was to oer a quantum leap in value that made the compeNNon irrelevant. The focus on innovaNng at value, not posiNoning against compeNtors, drives companies to challenge all the factors an industry competes on and to not assume that just because the compeNNon is doing something means it is connected to downloader value.
Blue Ocean Strategy makes sense of the strategic paradox that many organisations face: the more they focus on coping with the competition, striving to match and beat their rivals advantages, the more they ironically tend to look like the competition.Bo Burlingham. Example: Salesforce began with the blue ocean of web-based subscription CRM software, improving on the traditionally locally installed software of the time.
Chan Kim and Rene Mauborgne brought to the world Blue Ocean Strategy BOS based on their decade-long research on key strategic moves spanning more than years and 30 industries.
Download [Epub] Train Your Brain: Download [Read] Monetizing Innovation: English ISBN Since then, CEO-READ named it the bestselling book of the last decade, Taiwan named it one of the 30 most-inuenNal books in the last 30 years, Belgium and Russia named it among the 10 most important business books for the last decade, Poland named it one of the top 20 books that have inuenced Polish leaders, and China named it one of the 40 most- inuenNal economic books in the History of the Peoples Republic of China , along with Adam Smiths The Wealth of NaNons under the category of Economics and Finance.
About this product Synopsis A global phenomenon now published in a record 43 languages. Then redistribute resources so everyone wins.
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