What are the key takeaways from the Blue Ocean Shift that can influence corporate strategies?

The key takeaways from the Blue Ocean Shift that can influence corporate strategies are:

1. The importance of creating uncontested market space, or 'blue oceans', rather than competing in existing saturated markets, or 'red oceans'.

2. The five-step process to achieve a Blue Ocean Shift: Start by understanding your current state, then explore where you could be, find out how you'll get there, make your move, and finally, institutionalize the shift.

3. The value of tools related to each step, which can be used independently to bring about change in the organization.

4. The emphasis on the need for action and change, rather than hoping for things to change on their own.

Question was asked on:

Not all organizations are willing or able to execute a complete Blue Ocean Shift right now; but this is not an all-or-nothing process. Each of the five steps and its related tools has value in and of itself. Perhaps the organization just needs a wake-up call in the form of a systematic review of the industry as it stands (Step Two), or perhaps it could benefit from some insights into where to find new customers (Step Three). The only mistake is to do nothing and hope that things will change.

Asked on the following book summary:

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...

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