Blue Ocean Strategy, Expanded Edition Book Review

Main Sections of the Book

1. Creating Blue Oceans – The book begins by explaining the concept of Blue Ocean Strategy, the importance of creating uncontested market spaces, and how it differs from the traditional competitive strategies in a “red ocean”.
2. Analytical Tools and Frameworks – The authors introduce several tools and frameworks, including the Strategy Canvas, Four Actions Framework, and the Eliminate-Reduce-Raise-Create Grid. These frameworks help businesses to visualize their current strategy and create a new value curve.
3. Overcoming Key Organizational Hurdles – This section discusses practical ways to overcome common hurdles when implementing the Blue Ocean Strategy, such as cognitive, resource, motivational, and political hurdles.
4. Building Execution into Strategy – The final section emphasizes the importance of execution in strategy, and how to effectively implement and manage the change associated with a blue ocean strategic move.

Key Takeaways or Conclusions

1. Creating a blue ocean requires a shift in mindset from competing to creating. Instead of focusing on beating the competition, the focus should be on making the competition irrelevant by creating a leap in value for buyers.
2. The process involves challenging industry assumptions, understanding non-customers, and leveraging unique strengths to create uncontested market spaces.
3. Execution is as important as strategy. The best strategy will fail without effective execution, which includes overcoming cognitive, resource, motivational, and political hurdles.

Author’s Background and Qualifications

W. Chan Kim and Renée Mauborgne are Professors of Strategy at INSEAD and co-directors of the INSEAD Blue Ocean Strategy Institute. They are recognized globally for their research and thought leadership in business strategy and management.

Comparison to Other Books on the Same Subject

While many strategy books, such as “Good to Great” by Jim Collins, focus on how to outperform competitors, “Blue Ocean Strategy” stands out because it advocates for creating new market spaces where there is no competition. It complements other strategy books by offering a unique perspective and practical tools to visualize and implement the strategy.

Target Audience or Intended Readership

The book is intended for business leaders, managers, and entrepreneurs interested in innovative strategic thinking. It is also useful for business students and academics studying strategy and innovation.

Reception or Critical Response to the Book

“Blue Ocean Strategy” has been widely acclaimed for its fresh, innovative approach to business strategy. It has been published in 44 languages and sold over 3.6 million copies worldwide. The book has been praised for its practical frameworks and real-world examples, although some critics argue that it oversimplifies the challenges of creating new markets.

Recommendations (Other Similar Books on the Same Topic)

1. (Amazon) “Blue Ocean Shift: Beyond Competing” by W. Chan Kim and Renée Mauborgne
2. (Amazon) “Playing to Win: How Strategy Really Works” by A.G. Lafley and Roger L. Martin
3. (Amazon) “Innovation and Entrepreneurship” by Peter F. Drucker

Final Thoughts

The most profound takeaway from “Blue Ocean Strategy” is that creating uncontested market spaces through value innovation, rather than competing in overcrowded industries, can lead to greater business success.