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The key steps in implementing a Blue Ocean Shift, according to the book, are as follows:
1. Make the decision: The first step is to decide to make a shift towards a blue ocean strategy.
2. Market-test a prototype: Once the decision has been made, the team should quickly market-test a prototype of the new offering. This is to capitalize on the momentum that has built up.
3. Iron out problems: Any last-minute problems should be ironed out in the wake of the testing.
4. Formalize the Business Model: The team can now move on to formalizing the Business Model. This is a big picture that shows how the value and the cost sides of the business can join together to generate profitable growth at the set strategic price.
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Once the decision has been made, the team should quickly market-test a prototype of the new offering, in order to capitalize on the momentum that has built up with the Blue Ocean Fair. With any last-minute problems ironed out in the wake of the testing, the team can now move on to formalizing the Business Model. This is a big picture that shows how the value and the cost sides of the business can join together to generate profitable growth at the set strategic price.
Asked on the following book summary:
Released in early-October 2017 — Blue Ocean Shift — is the continuation of the award-winning Blue Ocean Strategy, a bestselling strategy book based on...
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