What is Blue Ocean Strategy in leadership?

Blue ocean leadership, in contrast, is action-based, just as strategy is. It focuses on what acts and activities leaders need to do to provide a leap in motivation and business results driven by people, not on who they need to be.

What is the meaning of blue ocean?

Blue ocean is an entrepreneurship industry term created in 2005 to describe a new market with little competition or barriers standing in the way of innovators. The term refers to the vast “empty ocean” of market options and opportunities that occur when a new or unknown industry or innovation appears.

What is a blue ocean skill?

Blue oceans denote all the industries not in existence today – the unknown market space, unexplored and untainted by competition. Like the ‘blue’ ocean, it is vast, deep and powerful –in terms of opportunity and profitable growth.

How is Blue Ocean Leadership different and how can it be sustained?

Blue ocean leadership, by contrast, focuses on what acts and activities leaders need to undertake to boost their teams’ motivation and business results, not on who leaders need to be. This difference in emphasis is important.

What is a blue ocean strategy and what is its appeal?

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.

Why is it called blue ocean strategy?

A blue ocean is an analogy to describe the wider, deeper potential to be found in unexplored market space. A blue ocean is vast, deep, and powerful in terms of profitable growth.

What is a Blue Ocean strategy and what is its appeal?

How is Blue Ocean strategy implemented?

Here’s how you create a Blue Ocean:

1. Define the current reality.
2. Identify a segment of customers who are only interested in or find value in a portion of the features of a product or service.
3. Alter the product or service to be inferior on the aspects that are less valued by your new target audience.