Apr 19 2008
Fascinated By Blue Ocean Strategy
I admit to be a big fan of W. Chan Kim and Renee Mauborgne, authors of the best-seller Blue Ocean Strategy. They teach an important strategy to develop a new market where there is no competitor, instead of competing with existing competitors head-to-head in the current market space.
Here are a few lessons that impact me most:
- Value innovation - Offering differentiated values to customers yet at a lower cost.
- Strategy canvas - A visual tool to assess the state of a firm and reorient it against competitors.
- Four actions framework - Deciding what to eliminate, reduce, raise and create.
- Attracting non-customers - Redefining the market by looking beyond existing customers to non-customers.
Here are two incoming events conducted by Lifelong Learning initiative by MCA (I’m not affiliated to MCA):
- Talk on blue ocean strategy on 24th April
- Reading session on blue ocean strategy and the success stories of Malaysian enterprises on 26th April
Would you like to join me? Drop an email to ricky@rickysoo.com.
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