Blue Ocean Strategy: Review and Summary of main contents

The Blue ocean strategy was developed by W. Chan Kim and Renée Mauborgne in their research in 2005. By analyzing 150 business strategies during over 100 years in 30 different industrial sectors, Kim and Mauborgne (2005) propose that firms succeed not because of fighting with their rivals, but because they have created “blue ocean” in

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Analytical tools and principles of formulating and implementing blue ocean strategy

Kim and Mauborgne (2005) have developed three tools (Strategic Canvas, Four Forces Frame, Eliminate-Reduce-Raise-Create Grid) and six principles for formulating and implementing blue ocean strategy of the firm (Principle 1 - Reconstruct market boundaries; Principle 2 - Focus on the big picture, not the numbers; Principle 3 - Reach beyond existing demand; Principle 4 - Get the strategic sequence right; Principle 5 - Overcome key organizational hurdles; Principle 6 - Build execution into strategy).

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