Blue Ocean Strategy - GitHub Pages According to Blue Ocean Strategy, one of the three key attributes an effective strategy (or 'Value Curve' in BOS visual terminology) must have is a compelling tag line (the other two being distinction and focus). customers identify immediately what is offered, and it helps employees identify what they should concentrate on, thereby, bringing focus to the execution of the strategy. divergence, compelling tagline Frameworks/methodologies applicable to strategy execution Tipping Point Leadership approach Four Organizational Hurdles framework Kingpins approach, Fishbowl management, atomization Blue Ocean Strategy - SlideShare Use the strategy canvas. When expressed through a value curve, an effective blue ocean strategy like Yellow Tail's has three complementary qualities: focus, divergence and a compelling tagline: The takeaway: three characteristics of a good strategy . When expressed through a value curve, an effective blue ocean strategy like Yellow Tail's has three complementary qualities: focus, divergence and a compelling tagline: Focus: Every great strategy has focus, and your company's strategic profile, or value curve, should clearly show it. The Porter's Five Forces is focusing more on what makes an organization competitive in existing red markets and it is concerned with the micro-environmental factors affecting businesses within the same industry. Blue Ocean Strategy. Blue Ocean Strategy for Emerging ICT Business . Blue ocean strategy - WordPress.com Belief that blue ocean strategy sees competition as bad when in fact it can be good for companies. ü An internally driven company. Blue Ocean Strategy: From Theory to Practice Creating a blue ocean strategy is not a static achievement but a dynamic process -Blue Ocean Strategy: How to Create Uncontested Market Space and Make the Competition Irrelevant, W. Chan Kim and Renee . April 26, 2012 by irishjanetejano. Blue Ocean Strategy of BMW must focus on key three corresponding qualities: focus, compelling tagline, and divergence. Strategic Management Quiz 3 Flashcards | Quizlet Then finally, the last thing is a compelling tagline. 5 Key Takeaways. "The speed of the plane at the price of the car—whenever you need it." A company should never outsource its eyes. Consider focus, divergence, and a compelling tagline (pp. Tagline: Your strategy can be summed up in a clear-cut and compelling tagline; Reconstruct Market Boundaries. When a company's value curve, or its competitors', meets the three criteria that define a good blue ocean strategy—focus, divergence, and a compelling tagline that speaks to the market—the company is on the right track. Characteristics of bad strategy; ü When a company's value curve converges with its competitors. 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 . Becomes the initial litmus test of commercial viability of blue ocean ideas. Among existing customers, it triggers a response of "I wouldn't want that, but can see others who would" and an "oh, of course" response in a new group of customers. A Blue Ocean Strategy • The first question the value curves answer is whether a business deserves to be a winner. According to Kim and Mauborgne's seminal business strategy book Blue Ocean Strategy, for an entrepreneur to discover a Blue Ocean idea, he or she must follow the four steps below: 1. At EMBA PRO, we provide corporate level professional Marketing Mix and Marketing Strategy solutions.ZARA case study is a Harvard Business School (HBR) case study written by David J. Arnold. While competition-based red ocean strategy assumes that an industry's structural conditions are given and that firms are forced to compete within them, blue ocean strategy is based on the view that market boundaries and industry structure are not given and can be reconstructed by the actions and beliefs of industry players. 39â 41 Blue Ocean Strategy) and Figure 1-3 (p. 7 Strategy A View From the Top). Caught in the red ocean (due to low divergence) The final test of a good strategy picture is how well it lends itself to a tag line. . ü Compelling tagline. Compelling Tagline: a good strategy has a clear-cut and compelling tagline. Instant . Blue ocean strategy breaks value-cost trade-off by using value innovation which reduces cost but increases value. See Part 1 Here. Include a compelling 'blue ocean tagline' for your business. A broadly encompassing encyclopedia on the emerging topic of In W. Chan Kim and Renée Mauborgne's latest book, Blue Ocean Shift, they outline three components to a blue ocean strategy: Divergence Focus Compelling Tagline If you include these three components in your strategy, you will be on your way to becoming a blue ocean company. A good strategy has a clear and compelling tagline. The acid test of a blue ocean strategy is that it must have focus, it must diverge from the other players, and it must have a compelling tagline. KIRENZ STRATEGY & MARKETING CONSULTING blue ocean strategySequence of BOS Source: www.blueoceanstrategy.com ; 18. Blue Ocean Strategy Concept - Overview & Analysis Get complete, up-to-date and authoritative coverage of technology and innovation. When expressed by means of a value curve, an effective Blue Ocean Strategy like [yellow tail]'s has three complementary qualities: focus, divergence, and a compelling tag-line. Not innovation, but value innovation. The Blue Ocean Strategy framework evolved from a framework called . • The Eliminate-Reduce-Raise-Create Grid. By applying the four actions of eliminating, reducing, raising, and creating, the company differentiate their profiles from the industry's average profile. a "blue ocean.". When a company's value curve, or its competitors', meets the three criteria that define a good blue ocean strategy—focus, divergence, and a compelling tagline that speaks to the market—the company is on the right track. 3: Restructuring Market Boundaries. . The Blue Ocean Strategy Presented by: Stephene Roy Cardines Condino 2. K. Sreeja. Blue Ocean that makes the current competition irrelevant. Vertical - offering levels that buyers receive. A good strategy has a clear and compelling tagline. The term value curve appears in three key Harvard Business Review articles by W. Chan Kim and Renee Mauborgne, as well as their 2005 book - Blue Ocean Strategy. EMBA Pro Blue Ocean Strategy Approach for ZARA . 'Tagline', a term that's close to the heart of marketing folks is also evolved from the strategy canvas of the Blue Ocean Strategy. Reading Value Curves • Blue Ocean Strategy o If the value curve lacks focus, the cost structure will rise o If it lacks divergence, the company would be following a "me too" strategy o Without a compelling tagline, the company might not have great potential • Red Ocean Strategy o If the company's value curve converges with the competitors, the company is within the red ocean of . A structured process of visual awakening, exploration, strategy fair and communication pushes a company's strategy towards blue ocean. A Compelling Tagline. • The initial litmus test for blue ocean strategy: focus, divergence, compelling tagline. A compelling tagline is an important initial litmus test to ensure that the divergence and focus behind your strategic profile are actually linked to a leap in buyer value (i.e., not a bit more or a bit less of what the competition does). ü Over d without payback. …the strategic profile with high blue ocean potential has three complementary qualities: focus, divergence, and a compelling tagline. I told you the Blue Ocean approach was practical! Compelling tag line. divergence, and a compelling tagline that speaks to the market—the company is on the right track. It captures the current state of play in the known market space. Competing for old ones is a "yesterday" strategy. The authors use the metaphor of the blue ocean as a direct contrast to red oceans. 3 Factors of a Blue Ocean Strategy Divergence A blue ocean strategy is a tool used to gaining a competitive advantage, it is a strategy used to create a uncontested market space and make the competition irrelevant. A strong value curve has focus, divergence as well as a compelling tagline. . Focus; Divergence; Compelling Tagline; You'd see how [yellow tail]'s strategy met those three criteria. Belief that blue ocean strategy is synonymous with creative destruction . Compelling tagline: clear and compelling slogan; Problems when a strategy is not good enough. The company that applies Blue Oceans always stand apart . Automobile industry in the 1890s, the horse and buggy was the primary mode of transportation. Show, on this slide, a high resolution image that is descriptive of your business. Instead, Blue Ocean Strategy outlines six principles that will help any business pivot towards uncontested domains where the competition is irrelevant and pent-up demand remains untapped. A compelling tagline: the dimensions upon which you are strong and those which you are weak, come together to form a catchy, tagline. Blue Ocean Strategy is a Growth Strategy framework focused on the idea of creating an uncontested market space—i.e. For Units 1â 3, you will be choosing a companyâ s product or service to analyze. Blue Ocean Strategy Chapter 6. • a blue ocean strategy has focus, divergence (recognizable in the strategy canvas) and a compelling tagline (as a result from the strategic profile) • a company caught in the red ocean has a value curve that converges with that of the industry's • overdelivery without payback indicates that the process of eliminating and reducing competing … "Blue Ocean Strategy" & The Product Life Cycle For what seems like a decade now, business people have been aware of our world changing and struggling to find tools that would help them to survive and prosper in this new and changing world. They are the authors of the international bestselling book Blue Ocean Strategy which is recognized as . This is because a blue ocean idea threatens the status quo, and for that reason it may provoke fear and resistance in the three main stakeholders of a company: the employees . Kim dan Mauborgne tidak pernah memungkiri akan adanya potensi persaingan mematikan antar pemain dalam salah satu industri. The belief that blue ocean strategy is the same as innovation. Everyone in an organization must support and be aligned with strategy. Why, you may be thinking, is a tagline one of the three critical components of an effective strategy? This allows you to understand where the competition is currently investing, the factors the industry currently competes on in products, service, and delivery, and what . Blue Ocean Strategy. Choose a well-known company and one of its products or services and analyze how well you believe they have employed these three concepts in the strategy for the product or service (You will be discussing . The value curve is a tool for strategic managers to see visually how their strategy works in relation to close competitors. Strategy Canvas. Consider focus, divergence, and a compelling tagline (pp. The central diagnostic and action framework used in Blue Ocean Strategy, it serves two purposes: To capture the current state of play in the known market space, which . Horizontal - The range of factors the industry competes on and invests in. Factors such as competitive rivalry, new entrants, buyer power, supplier . The tag-line used by [yellow tail] made an impression and attracted interest; a fun and simple wine to be enjoyed every day. INTRODUCTION In this concluding chapter, we address the issues of the sustainability and renewal of blue ocean strategy. Examples of the past blue ocean: mobile phone, music recording . This framework is very innovative, as its principles challenge the conventional business strategy principles of fighting competitors head-on. Blue Ocean Strategy is growth strategy framework focused on the idea of creating an uncontested market space-i.e. On the occasion of the launch of India Blue Ocean Strategy Research Centre by TAPMI, I was requested to share the story using the Blue Ocean Strategy framework.Following is a summary of that talk. The strategy canvas is the central diagnostic and action framework for building a compelling blue ocean strategy. Blue Ocean Strategy W. Chan Kim and Renee Mauborgne. 2005 W. Chan Kim and Renée Mauborgne Here's the strategy - create new markets. Firstly, tag lines force you to communicate concisely and to simplify your message toward consumers and the marketplace. The Blue Ocean Strategy is relatively a new concept propounded by Kim and Mauborgne in 2005 in their famous book "Blue Ocean Strategy: How to Create Uncontested Market Space and Make . Blue Ocean Strategy How to Create Uncontested Market Space and make the Competition Irrelevant Boston: Harvard Business School Press. "An effective blue ocean strategy has three complementary qualities: focus, divergence and a compelling tagline." "Blue ocean strategy pursues differentiation and low cost simultaneously by reconstructing market boundaries." "A thriving blue ocean strategy is built on more than differentiation and low-cost in its value proposition. Outline of the Report Blue Ocean and the Red ocean Value Innovation Three Compelling Taglines for a Blue Ocean Strategy The Four Grids Visualizing Strategies in 4 Steps Sequence of Blue Ocean Strategies Buyer Experience Profit Model of Blue Ocean Strategy Blue Ocean Idea Index Avoiding imitations of . Blue Ocean Strategy o If the value curve lacks focus, the cost structure will rise o If it lacks divergence, the company would be following a me too strategy o Without a compelling tagline, the company might not have great potential. Explore the six paths to creating Blue Oceans: Identify the current . Focus on the Big Picture, Not the numbers. a "blue ocean." This framework is very innovative, as its principles challenge the conventional business strategy principles of fighting competitors head-on. good strategy - the strategy grid creates a good strategy with three characteristics: focus, divergence and a compelling tagline. HubSpot Blue Ocean Strategy Case Study I used their framework/4-questions to create a draft of how we think about the Customer Managed Relationships (as opposed to CRM) marketplace. Analysis generated from the Breakthrough Toolkit. By applying the four actions of eliminating, reducing, raising, and creating, the company differentiate their profiles from the industry's average profile. To draw a Blue Ocean strategy, focus on the big picture and reach beyond existing demand, a good strategy has three qualities: focus, divergence and a compelling tagline. Blue ocean strategy is a strategy that challenges the firms to foresee beyond competition by creating new uncontested market space i.e. ∗Blue Ocean Strategy is a: ∗Value Innovation Strategy - competes in an uncontested market space ∗"Combination Strategy ": pursue differentiation while controlling costs. . Brandon Seitz, Laycie Duncan, Dylon Wieland, Regan Raines. ü Incoherent strategy. Compelling tagline A good strategy has a clear-cut and easy to communicate tagline. 3. (Chapter 9: Conclusion) by Anastacio, Alyanna Lordan, Mara Vanessa. The Number One Thinkers W. Chan Kim and Renee Mauborgne call this safe space the Blue Ocean — an uncontested market where competition is irrelevant. Create your own markets in brand new territory The strategy canvas • the strategy canvas is both a diagnostic and an action framework for building a compelling blue ocean strategy. The book suggests that an ideal strategy has 3 qualities: focus (not too many criteria), divergence (from the alternatives in the framework), and a compelling tagline. The Blue Ocean strategy is focused on value innovation which is defined as "making the competition irrelevant by creating a leap in value for your buyers and your company, thereby opening up new and uncontested market space". Blue ocean strategy can be applied in business units' visualization strategy to showcase its strategy canvases to others (Kim & Mauborgne, 2005). The creation of uncontested market space makes the competition irrelevant. KIRENZ STRATEGY & MARKETING CONSULTING Companies need to build their blue ocean . Compelling Tagline: " A good tagline must not only deliver a clear message but also advertise an offering . 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