We’re All Chum(s) Here

Clemens Pfeiffer, press photographer, A-1190 Wien

In a marketplace full of fierce competitors, diving into the same bloody waters isn’t always the best strategy. Back in 2004, W. Chan Kim and Renee Mauborne of Harvard Business Review codified an approach to creating workable strategies that set an organization apart from the competition. These “Blue Ocean” strategies focus on finding out what customers need that the market isn’t giving them, getting rid of what the customers don’t need, and competing on the organization’s strengths, rather than just trying to imitate everyone else in the “Red Ocean.”

Below are a few resources I found useful in understanding, developing, and executing “Blue Ocean” strategies:

Harvard Business Review Articles

Key Concepts and Tools

I found the following concepts particularly useful

  • Blue Ocean vs. Red Ocean Marketspaces and Strategies
  • Four Actions Framework (Raise/Reduce, Eliminate/Create)
  • Strategy Canvas Template (MS Excel)