Blue Ocean Strategy

Current employer HCL's CEO is highly inspired by this book and trying to create a blue ocean. HCL logo also happens to be blue by chance:).Coming to the book...huum some interesting concept of strategy canvas the authors mention for companies to follow when devising strategy...benchmarking using the same and trying to emphasize not to go by numbers alone as they are reflections of the past....though numbers are important but emphasize on the big picture and follow canvas to make judgements....they don't mention in depth about how to go about forming the strategy canvas.The Red ocean is the current market place were companies are vying to attain top spot....the pie is not increasing but getting redistributed.....the authors believe that companies should create new marketplace with value innovation which they call as blue ocean.....the citation of examples to prove their point is a good point in the book .....the writers have done quite a good research and presented their ideas well...Appendix on the blue oceans occurring in automobile, computer and movie theater over the past century is also an interesting read.

6 principles of Blue Ocean Strategy:

1.Reconstruct market boundaries to break from competition

2.Focus on the big picture , not the numbers

3.Reach beyond existing demand.This is a key component of achieving value innovation.

4.Get the Strategic sequencing right.

5.Overcome key organizational hurdles to make blue ocean strategy happen in action.

6.To build people's trust and commitment deep in the ranks and inspire their voluntary cooperation.

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