What is new about the new edition of Blue Ocean Strategy?
Kim & Mauborgne: The original Blue Ocean Strategy stimulated organizations around the world to pursue “blue oceans” of uncontested market space. The expanded edition of Blue Ocean Strategy brings all of the original case studies and examples up to date, expands one chapter, and adds two brand new ones. Together, the new material address manager’s key challenges and trouble spots in putting blue ocean strategy into practice.
For example, to aid organizations that have struggled to align their organizational activities, not to mention external partners, we lay out a simple method to get key components of an organization, from value to profit to people, working together to support the strategic shift blue ocean strategy requires. The new book also articulates our dynamic renewal process, one that helps companies make the creation of blue oceans a repeatable process and helps multi-business organizations balance both red and blue ocean initiatives.
Another key update outlines the ten most-common traps we see companies fall into as they apply blue ocean strategy in practice. Those traps – often created when companies embrace blue ocean strategy but interpret and try to apply its tools using more conventional conceptual models — keep companies anchored in the red even as they attempt to set sail for the blue. With the proper grasp of the concept, one can avoid the traps and successfully apply its associated tools and methodologies.