Don’t compete with rivals – make them extraneous.
Tell me how many of you really love challenges by competitor’s in business….?
To be successful in business competition is needed. YES off course it is needed. But how you think about making the competitors ‘EXTRANEOUS’.
This is the key theme behind ‘’BLUE OCEAN STRATEGY’’.
A beautiful strategy proposed by Ms Mauborgne and W chan kim.
Rather than summarizing the BOS, I thought I would give you a few quotes that lay out the theme in the authors' words:
"The only way to beat the competition is to stop trying to beat the competition. In red oceans, the industry boundaries are defined and accepted, and the competitive rules of the game are known. In blue oceans, competition is irrelevant because the rules of the game are waiting to be set. ...The companies caught in the red ocean followed a conventional approach, racing to beat the competition by building a defensible position within the existing industry order.
The creators of blue oceans, surprisingly, didn't use the competition as their benchmark. ...Instead of focusing on beating the competition, they focus on making the competition irrelevant by creating a leap in value for buyers and your company, thereby opening up new and uncontested market space. …Value innovation is based on the view that market boundaries and industry structure are not 'given' and can be reconstructed by the actions and beliefs of industry players. …To fundamentally shift the strategy canvas of an industry, you must begin by reorienting your strategic focus from competitors to alternatives, and from customers to non-customers of an industry. As you shift your strategic focus from current competition to alternatives and non-consumers, you gain insight into how to redefine the problem the industry focuses on and thereby reconstruct buyer value elements that reside across industry boundaries"
