Blue Ocean Strategy

From Glitchdata
Jump to navigation Jump to search

Blue Ocean Strategy (BOS)

Sometimes called Value Innovation, Blue Ocean Strategy is a growth framework focused on the idea of creating an uncontested market space–i.e. a “blue ocean.” This framework is very innovative, as its principles challenge the conventional business strategy principles (defined by Porter, see below) of fighting competitors head-on.

A powerful tool in BOS is the Value Curve, which depicts where incumbent players are placing their value. It allows us to visualize where competition places value, where customers place value, and where there are potential opportunities to disrupt the market. This then allows us to determine which specific value attributes to eliminate, reduce, raise, and create. By creating new value attributes, we create a “blue ocean” to compete in.