Book Review: Blue Ocean Shift
Blue Ocean Shift is a continuation of the Blue Ocean Strategy. Blue Ocean Shift is a step-by-step guide to moving past competition in an overcrowded industry. Based on decades of the authors’ practical experience, explain why you should endeavor to make competition obsolete and how you can open up whole new worlds of opportunity. The ideas behind this book are profound. But they take a long time saying everything and the delivery of these ideas are stretched a bit.
They broke down the process to achieve Blue Ocean into following steps:
1. Choose an area that has stopped growing
2. Choose a team including at least the heads of all the departments (including backend ones like HR)
3. Go to the ground and experience the product or service in question as a user, to find out the ‘pain points’
4. Put this into a Strategy Canvas, including industry standards
5. Use a buyer utility map to see how you can do better than the industry standard
6. Identify the non-customers
7. Find out the competition: alternatives the non-customers use
8. Now think of improving your product to appeal to those people
9. Present to management and potential customers
10. Create the product
Check out the book if you are interested by clicking here.