Some of the most innovative ideas presented in 'Blue Ocean Shift' include the concept of moving from a 'red ocean' of fierce competition to a 'blue ocean' of uncontested market space. This involves creating new demand in non-existent markets, making the competition irrelevant. The book also introduces a systematic five-step process to help organizations make this shift. This includes: choosing the right place to start, constructing the right team, getting clear about the current state of play, uncovering the hidden pain points that limit the size of your industry, and systematically reconstructing market boundaries to create your blue ocean.

This question was asked on the following book summary:

resource preview

Blue Ocean Shift

Released in early-October 2017 — Blue Ocean Shift — is the continuation of the award-winning Blue Ocean Strategy, a bestselling strategy book based on...

Download and customize 500+ business templates and translate PowerPoints

Go to dashboard to download stunning resources

Download

book summary Preview

View all chevron_right

Text this question was asked on:

— released in early-October 2017 — is the continuation of the award-winning Blue Ocean Strategy, a bestselling strategy book based on a study of 150 strategic moves spanning more than a hundred years and thirty industries. In this series, a "red ocean" is defined as a saturated market in which companies must compete to survive, and "blue ocean" as a market in which there is little or no competition. focuses on how can corporations, bureaucratic organizations, non-profits, among other organizations – shift their mindset and products towards a blue ocean. Specifically, this book addresses the human barriers associated with innovation and change that can exist in large organizations.

stars icon
Questions and answers
info icon

The Blue Ocean Shift discusses strategic moves that organizations can make to transition from a competitive, saturated market (red ocean) to a market with little or no competition (blue ocean). The book emphasizes the importance of innovation and change, and addresses the human barriers associated with these processes in large organizations. The broader implications of these strategies include the potential for increased profitability and market share, as well as the opportunity to shape industry trends and standards. However, these moves also come with risks, such as the uncertainty of venturing into uncharted market territory and the potential resistance to change within the organization.

Small businesses can use the strategies outlined in the Blue Ocean Shift to grow by creating a new market space or "blue ocean" where there is little or no competition. This can be achieved by innovating and offering unique products or services that meet the unmet needs of customers. They can also shift their mindset towards embracing change and innovation, and overcoming the human barriers associated with these. It's important for small businesses to not only focus on competing in existing markets, but also on creating new ones.

View all questions
stars icon Ask another question