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| 30 Blue Ocean Strategy Quotes By W. Chan Kim |
Information About Blue Ocean Strategy
Name of Book : Blue Ocean Strategy
Author : W. Chan Kim and Renée Mauborgne
Genre : Business Management
Pages : 240, 287 (Expanded Edition)
Language : English
Country : United State
Publication date : 2004, 2015 (Expanded Edition)
Publisher : Harvard Business Review Press
Quotes From Blue Ocean Strategy
1. “ Given the high potential for free riding, an offering’s reputation must be earned on day one, because brand building increasingly relies heavily on word-of-mouth recommendations spreading rapidly through our networked society. ”
— Blue Ocean Strategy
2. “ Strategic planning should be more about collective wisdom building than top-down or bottom-up planning. ”
— Blue Ocean Strategy
3. “ The planning process doesn’t produce strategy ”
— Blue Ocean Strategy
4. “ While good strategy content is based on a compelling value proposition for buyers with a robust profit proposition for the organization, sustainable strategy execution is based largely on a motivating-people proposition. ”
— Blue Ocean Strategy
5. “ Instead of drilling down and finding ways to creatively meet the target cost as Ford did, if companies give in to the tempting route of either bumping up the strategic price or cutting back on utility, they are not on the path to lucrative blue waters. ”
— Blue Ocean Strategy
6. “ Commitment, trust, and voluntary cooperation are not merely attitudes or behaviors. They are intangible capital. They allow companies to stand apart in the speed, quality, and consistency of their execution and to implement strategic shifts fast at low cost. ”
— Blue Ocean Strategy
7. “ It immediately flags companies that are focused only on raising and creating and thereby lifting their cost structure and often overengineering products and services—a common plight in many companies. ”
— Blue Ocean Strategy
8. “ Value innovation requires companies to orient the whole system toward achieving a leap in value for both buyers and themselves. ”
— Blue Ocean Strategy
9. “ Drawing a strategy canvas is never easy. Even identifying the key factors of competition is far from straightforward. As you will see, the final list is usually very different from the first draft ”
— Blue Ocean Strategy
10. “ stop looking to the competition. Value-innovate and let the competition worry about you. ”
— Blue Ocean Strategy
11. “ Blue oceans are right next to you in every industry. ”
— Blue Ocean Strategy
12. “ Simply put, there is no substitute for meeting and listening to dissatisfied customers directly. ”
— Blue Ocean Strategy
13. “ Innovative ideas will be profitable only if they are linked to what buyers are willing to pay for. ”
— Blue Ocean Strategy
14. “ The natural strategic orientation of many companies is toward retaining existing customers and seeking further segmentation opportunities. ”
— Blue Ocean Strategy
15. “ Value without innovation tends to focus on value creation on an incremental scale, something that improves value but is not sufficient to make you stand out in the marketplace. ”
— Blue Ocean Strategy
16. “ To tip the cognitive hurdle fast, tipping point leaders such as Bratton zoom in on the act of disproportionate influence: making people see and experience harsh reality firsthand. ”
— Blue Ocean Strategy
17. “ Partnering, however, provides a way for companies to secure needed capabilities fast and effectively while dropping their cost structure. It allows a company to leverage other companies’ expertise and economies of scale. Partnering includes closing gaps in capabilities through making small acquisitions when doing so is faster and cheaper, providing access to needed expertise that has already been mastered. ”
— Blue Ocean Strategy
18. “ Salespeople on commission, for example, are seldom sensitive to the costs of the sales they produce. ”
— Blue Ocean Strategy
19. “ The natural strategic orientation of many companies is toward retaining existing customers and seeking further segmentation opportunities. This is especially true in the face of competitive pressure. Although this might be a good way to gain a focused competitive advantage and increase share of the existing market space, it is not likely to produce a blue ocean that expands the market and creates new demand. ”
— Blue Ocean Strategy
20. “ Value innovation is the cornerstone of blue ocean strategy. We call it value innovation because instead of focusing on beating the competition, you focus on making the competition irrelevant by creating a leap in value for buyers and your company, thereby opening up new and uncontested market space. ”
— Blue Ocean Strategy
21. “ The key here is not to pursue pricing against the competition within an industry but rather to pursue pricing against substitutes and alternatives across industries and nonindustries. ”
— Blue Ocean Strategy
22. “ As companies compete to embrace customer preferences through finer segmentation, they often risk creating too-small target markets. ”
— Blue Ocean Strategy
23. “ Corporate graveyards are full of companies that got to market first with innovative offerings not linked to value. ”
— Blue Ocean Strategy
24. “ Senior managers’ goal here should be to manage their portfolio of businesses to wisely balance between profitable growth and cash flow at a given point in time. ”
— Blue Ocean Strategy
25. “ Companies should strive to make the competition irrelevant by offering buyers a leap in value. ”
— Blue Ocean Strategy
26. “ The rule here is to go for the largest catchment that your organization has competence to seize. ”
— Blue Ocean Strategy
27. “ It is conventionally believed that companies can either create greater value to customers at a higher cost or create reasonable value at a lower cost. Here strategy is seen as making a choice between differentiation and low cost.21 In contrast, those that seek to create blue oceans pursue differentiation and low cost simultaneously. ”
— Blue Ocean Strategy
28. “ Experiences that don’t involve touching, seeing, or feeling actual results, such as being presented with an abstract sheet of numbers, are shown to be non-impactful and easily forgotten. ”
— Blue Ocean Strategy
29. “ While speed may be important, even more important is linking innovation to value. No company should rest easy until it achieves value innovation. ”
— Blue Ocean Strategy
30. “ Executives are paralyzed by the muddle. Few employees deep down in the company even know what the strategy is. And a closer look reveals that most plans don’t contain a strategy at all but rather a smorgasbord of tactics that individually make sense but collectively don’t add up to a unified, clear direction that sets a company apart—let alone makes the competition irrelevant. Does this sound like the strategic plans in your company? ”
— Blue Ocean Strategy