Blue Ocean Strategy

Traditional business outlook is about creating a product or service better than competition and leading the way by creating unprecedented lead in the market segment. There is a slightly different approach when it comes to the strategy being spelt out , the ‘Blue Ocean Strategy’ is all about tapping into unexplored markets by gauging the need; of the shifting consumer perception.  The main mechanism which is focussed upon here is the need to create a product utility with strategic pricing to overcome the traditional adoption hurdles. There are four organisational hurdles, when it comes to adopting such a strategy, which are – cognitive, resource-based, motivational and politics-based. The pillar of this strategy is “Value Innovation” – the concept makes sure the company creates value for itself and for the buyer. The concept is in direct contradiction to Michael Porter’s idea of successful businesses to be either low-cost providers or niche players. The idea was proposed by Charles WL Hill in 1988, while contradicting the Michael Porter’s model for competition. This book and other business books are available on the India online shopping website, homeshop18.