Chan Kim & Renée Mauborgne: Blue Ocean Strategy struck a chord with managers and executives around the world when it was published in 2005. Today, more than 4 million copies of the book have been sold and it has been translated into 46 languages, making it a bestseller across five continents. The term “blue ocean” has entered the business vernacular, and thousands of articles and blog posts on blue ocean strategy have come out, with more appearing daily. These articles explore how blue ocean strategy has provided the insight and the methodology for achieving high performance at low cost for individuals, businesses, or government organizations.
Through both our discussions and research studies with executives and managers implementing blue ocean strategy, we have been asked similar questions: How do we align all of our activities around our blue ocean strategy? What do we do when our blue ocean has become red? How can we avoid the strong gravitational pulls of “red ocean thinking” – we call them “red ocean traps” – even as we are pursuing a blue ocean strategy? These questions motivated the expanded edition.