Blue Ocean Strategy is a book published in 2004 written by W. Chan Kim and Renée Mauborgne, professors at INSEAD. Chan Kim and Renée Mauborgne are Professors of Strategy at INSEAD, one of the world’s top business schools, and co-directors of the INSEAD Blue Ocean Strategy Institute in Fontainebleau, France.
The book is one of the most impactful business books have ever read, my first reading was around 2010, and have since read the book more than 3 times and it keeps resonating each time. Blue ocean strategy breaks from the stranglehold of competition. At the book’s core is the notion of a shift from competing to creating new market space and hence making the competition irrelevant.
Blue ocean strategy challenges companies to break out of the red ocean of bloody competition by creating uncontested market space that makes the competition irrelevant. Instead of dividing up existing—and often shrinking—demand and benchmarking competitors, blue ocean strategy is about growing demand and breaking away from the competition.
Here are my favourite take-aways from reading, Blue Ocean Strategy by Chan Kim and Renée Mauborgne: