![]() ![]() The authors set out eight guiding principles of Blue Ocean Strategy: ![]() Value Innovation is about saving costs by eliminating and reducing the factors an industry competes on while increasing buyer value by raising and/or creating factors the industry has never offered.Ĩ Guiding Principles of Blue Ocean Strategy You should place the same emphasis on value and on innovation (not necessarily technology innovation), and align innovation with utility, price, and cost positions. Instead of focusing on overcoming the competition, with Value Innovation, you “focus on making the competition irrelevant by creating a leap in value for buyers and for your company”, thereby opening up new and ‘uncontested’ market space. Successful blue ocean companies follow a different strategic logic that the authors call Value Innovation. The paradox is that the only way to beat the competition is to stop trying to beat the competition.
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