|Title:||Blue Ocean Strategy|
|Author:||W. Chan Kim and Renee Mauborgne|
|Genre:||Business Guide Book|
Review: Blue Ocean Strategy by W. Chan Kim and Renee Mauborgne is an understanding of the culture where competition increases and how to be a prominent company in such competitive times. The book conspires of a study of a century amongst 30 industries and their success cultures.
In today’s competition when there are far too many competitors in the market, named a “Red Ocean”, the ratio of success and profit in an industry has plummeted to level where only the hefty of the companies are able to sustain a position in the market. In such a condition, diving into the red sea under the pressure of so many similar established companies and startups is pointless.
Why not make an industry of your own instead? The named “Blue Ocean”, as the name suggests, is the expanse of waters that have not been tested, neither the depth nor the wave intensity. The Blue Ocean is referred to the industry which has not been explored and has vast work opportunities for you. Unlike the “Red Ocean”, which is overcrowded and cannot help you with earning profits, “Blue Ocean” has the opportunities open for you; Don’t compete with rivals, make them irrelevant.
Making it to the uncontested market is yet to be easy, but to maintain that caliber throughout is a task. Though the book states the idea to be correct, but for how long the situation remains for an industry to stay un-crowded? As an Industry, it is to evolve one way or another. Industry growth results in higher competition, which results in divided profits.
Somehow, while the concept of “Blue Ocean” by W. Chan Kim, Renee Mauborgne is similar to the market “Monopoly”, monopoly refers to a sole proprietor while the Blue Ocean has fewer competitors to run with. Blue Oceans Strategy has yet to be applied to some of the industries yet, and finding those is the key to a more successful future!
Explore the market loopholes. The industry which has less to no competition. Where there is lesser competition, there is more profit.
WinningGO believes that no business/industry survives without taking risks. Emerging with a new industry has more success potential. Utilizing that potential with better decision making and business management can lead you to unbound success.