Part 1: Blue Ocean Strategy Ch. The strategy canvas visualizes the current state of the industry and shows how a blue ocean strategy differs from incumbents. Academy Of Management Proceedings , 2017 (1), 17635. doi: 10.5465/ambpp.2017.17635abstract Divergence And in those first few years it quickly became the go-to place on the Internet for up to date information, stories and inspiration on Blue Ocean Strategy. With point-to-point service and an exponential increase in … NetJets offers part ownership of a corporate jet- convenience of a private jet at the price of a commercial airline ticket. Blue Ocean Strategy (BOS) is the simultaneous pursuit of differentiation and low-cost to create new market space. NetJets, for example, combined private jet technology with the concept of fractional ownership to create an entirely new market. Uploaded by. W. Chan Kim and Renée Mauborgne are Professors of Strategy at INSEAD and Co-Directors of the INSEAD Blue Ocean Strategy Institute. 3 Background Red ocean = strong competition - SWOT analysis, firms try to compete better in their business environment Blue Ocean Strategy reconstructs market boundaries Business innovation, challenging the conventional assumptions New products Sales * According to survey of 108 large firms in USA 86% 14% 62% 38% Sales Profits A Blue Ocean Strategy for “Blue Ocean Strategy”: on Performativity of Strategic Management. Blue ocean strategy is based on over decade-long study of more than 150 strategic moves spanning more than 30 industries over 100 years. mausam kumar badal. B- Blue ocean strategy Canvas [yellow tail] C- The Eliminate-Reduce-Raise-Create Grid D- The 3 Blue Ocean’s principles. Academic year. I found the sections that actually prescribed theory and mechanisms for creating blue ocean innovations the most lacking in specificity, but the overall frameworks made sense to me. University. The Strategy Canvas. Emphasize the main strategic points (easy drinking, ease of selection, fun and adventure). Blue Ocean Strategy (กลยุทธ์มหาสมุทรสีคราม) EP.3. Blue Ocean Strategy is a business strategy book that promotes creating new market space or "blue ocean" rather than competing in an existing industry. 1200 posts later, it … Create a Blue Ocean Strategy in Four Steps. ทบทวน EP.1 | การสร้างน่านน้ำสีคราม NetJets identified the best features of each alternative, including options such as relatively low cost and ease/speed of travel. And most importantly, in this book the authors provide the tools in order to engage this new mindset. During this highly intensive 2-day program, participants will learn and practice the Blue Ocean Strategy concepts and tools. 1: Creating Blue Oceans. Blue Ocean Strategy introduces analytical tools to minimize risk. Below are my main notes and takeaways. That’s because our industry-leading scale and business model, all backed by Berkshire Hathaway, allow us a financial sustainability that is dependable—and unlike any other in the industry. By focusing on the key factors that lead corporations to trade across alternatives and eliminating or reducing everything else, NetJets created its blue ocean strategy. Blue Ocean Strategy is a process method for identifying viable business models and strategies. These three characteristics serve as an initial litmus test of the commercial viability of blue ocean ideas. Blue-ocean-strategy Strategy coursework. Blue Ocean Strategy is all about uncovering unchallenged market space by breaking away from the competition, which inevitably renders them superfluous. For example, NetJets strategic question was: Why would corporations choose one alternative industry over another? Blue Ocean Strategy presents a systematic approach to making the competition irrelevant and outlines principles and tools any company can use to create and capture their own blue oceans. Australian Casella wines created a blue ocean strategy that, in just two years, caused its [yellow tail] wine to become the fastest growing brand in the histories of both the Australian and the U.S. wine industries and the number one imported wine into the United States, surpassing the wines of France and Italy. Selectively incorporating the best features, NetJets created a blue ocean strategy by selling “timeshares” of a corporate jet to their customers. Focus. 2/7/2005 Don't struggle for a tiny niche. How to achieve a Blue Ocean Strategy. Access to more than 550 airport, as opposed to 30 for commercial ... -Nordisk's blue ocean strategy shifted the industry from an insulin producer to a diabetes care company. [1] It contains retrospective case studies of business success stories the authors claim were Blue Ocean Strategies. They will understand how companies such as Cirque du Soleil, Netjets or Curves have created strategic moves through Value Innovation. An excerpt from Blue Ocean Strategy. They will understand how companies such as Cirque du Soleil, Netjets or Curves have created strategic moves through Value Innovation. The Strategy Canvas of NetJets Price Need for customers to manage aircraft Deadhead costs Speed of travel time Ease of travel Flexibility & reability ... • Blue ocean strategy may conflict with other companies’ brand image • Natural monopoly: The market often cannot support a second player Blue Ocean Strategy (BOS) is the simultaneous pursuit of differentiation and low-cost to create new market space. Another great example of Blue Ocean Strategy is the transportation company Netjets. The BOSS simulation provides a unique and stimulating environment to allow deeper comprehension of core concepts and… As such it will most likely produce a working strategy. A landmark work that upends traditional thinking about strategy, this bestselling business book charts a bold new path to winning the future. These steps are questions you use to reevaluate your business and reinvent a new niche for your business. Blue ocean strategy is based on the principle that only way to beat the competition is to ... Ana Lovrak Blue Ocean Strategy 4 airline travel. Netjets discovered a new market in fractional ownership of private jets. A vital tool used to create Blue Ocean strategies is the Strategy Canvas, an example of which (in this case for NetJets) is shown in Figure 3. Blue ocean strategy focuses on the creation of entirely new markets where there is no competition, so that a business can generate exceptional profits. 2017/2018. คะแนน : 7.5 / 10 ความแน่นของเนื้อหา : 8.5 / 10 ความง่ายในการอ่าน : 7 / 10 . iTunes solved the problem of recording industries when it started the business. The much-talked-about book, Blue Ocean Strategy®, shows companies how to expand by creating new market spaces or industries that have little or no competition. Share. Nearly a decade ago I started this blog as a resource on Blue Ocean Strategy, innovation and creativity. Students also viewed. helpful 3 0. The blue ocean strategy requires you to take into consideration 4 steps. Authors W. Chan Kim and Renée Mauborgne describe the space where most companies compete as the “red ocean”—a space bloodied by fierce competition. They are the authors of Blue Ocean Strategy, which has sold over 3.5 million copies, is being published in a record-breaking 43 languages, and is a bestseller across five continents. Comments. There are several examples of the blue ocean strategy all over the world that have been accepted by many industries to get benefits such as Canon, iTunes, Cemex, Philips, Netjets, Curves, JCDecaux, Quicken, Polo Ralph Lauren, and so on. Instead, expand your horizons for a whole new market opportunity, the way NetJets and NTT DoCoMo did. Examples of Blue Ocean Strategy. Please sign in or register to post comments. After more than 55 years, NetJets continues to be the global leader in private jet travel and the preferred choice of the world’s most elite travellers. NITTE (Deemed to be University) Course. Formulating your Blue Ocean Strategy ANALYSING THE MARKET: TOOLS AND FRAMEWORKS. Blue Ocean Strategy seeks to make the competition irrelevant by creating a leap in value for both the company and its buyers. Business leaders in search of inspiration or a perspective outside competition-based market strategies can benefit greatly from Blue Ocean Strategy. NetJets’ smaller airplanes, the use of smaller regional airports, and limited staff keep costs to a minimum. Blue Ocean Strategy seeks to make the competition irrelevant by creating a leap in value for both the company and its buyers. This strategy needs to span across the entire system of a company’s activities. NetJets Inc., formerly Executive Jet Aviation, was founded in 1964 as the first private business jet charter and aircraft management company in the world. Here’s a brief overview of some of the tools and frameworks used in the formulation and execution of the Blue Ocean Strategy. Analog. But so will many other methods from the management consultants’ toolbox. Cirque du Soleil versus Ringling Bros. Red ocean: bloody competition In my view, Blue Ocean is a structured compilation of established common sense knowledge in the industry. Do get more details in our full 12-page summary. Blue ocean strategy discover with During this highly intensive 2-day program, participants will learn and practice the Blue Ocean Strategy concepts and tools. Competitive factors (decision drivers or attributes) are shown across the x-axis.