The Blue Ocean Strategy

The Blue Ocean Strategy, Written by W. Chan Kim and Renee Mauborgne, Is a book created for people in buisness who are looking to ither open a new buisness succesfully, or better an existing buisness by giving tipsa and ideas to where you should locate and what items/ advitisment will draw peoples attention.

One:  Reconstruct Market Boundaries

• Re-evaluate the premises that form Your industry assumptions and shape you buisness models.

Two: Focus On the Big Picture, Not the Numbers.

• To maintain your sense of direction with your finanances, use a "stragegy canvas" , which is a graphic representation of your competitors products, Prices and idustry position. This canvas will show your "value curve" and clears possible opprotunities.

Three: Reach Beyond Excisting Demand.

•  Focus on Potential future customers, istead of just the customer you currently have. Atttact customeres with outside advertisments

Four: Get the Strategic Sequence Right

• Execute your stragegy sequentially to achieve your "value innovation". Just having fancy new technology doeant mean anything in the blue ocean stragegy. To be compelling, the product must provided convenience, saftly and entertainment to fit customers demand.

Five: Overcover key Organization Hurdles
To implement chang with minimal disruption, use the " tipping point leadership". The key is to use/sell resources whebn they are the most powerful.

Six: Build Execution Into Stragegy

•  When hireing management you want to know you can trust that person with the responcability of your buisness when your not there.