What we’re thinking
Blue Ocean Strategy is about finding uncontested markets (blue oceans) by applying “value innovation” – simultaneously lowering costs and increasing value.
We can leverage the progress economy’s view of value – as emerging from progress – to better understand both “increasing value” and impact on lowering costs. Specifically, we can:
- construct a Blue Ocean strategy canvas based on the three components of progress (functional, non-functional and contextual)
- apply Blue Ocean’s four action framework to systematically investigate raising, reducing, creating or eliminating progress elements
with the aim of investigating if there is some untapped progress sought.
Editing / writing from here
Blue Ocean Strategy is the simultaneous pursuit of differentiation and low cost to open up a new market space and create new demand. It is about creating and capturing uncontested market space, thereby making the competition irrelevant.https://www.blueoceanstrategy.com/what-is-blue-ocean-strategy/
Blue ocean strategy is about finding uncontested markets (blue oceans) by applying “value innovation” – simultaneously lowering costs (by eliminating and reducing industry competing factors) and increasing “value” (by raising and creating factors not offered by the industry)