Quotes from W. Chan Kim

In a study of business launches in 108 companies, we found that 86% of those new ventures were line extensions—incremental improvements to existing industry offerings—and a mere 14% were aimed at creating new markets or industries.

the reason buyers love these blue ocean offerings isn't because they involve bleeding-edge technology per se, but because these offerings make the technology essentially disappear from buyers' minds. The products and services are so simple, easy to use, fun, and productive that buyers fall in love with them.

Unless people believe that the strategic challenge is attainable, the change is not likely to succeed.

Cómo la estrategia moldea la estructura» explica la forma de seleccionar el enfoque correcto y, sea cual sea la estrategia seleccionada, cómo alinear tres propuestas estratégicas: una propuesta de valor que atraiga a los compradores, una propuesta de beneficio que permita a la compañía ganar dinero con esta propuesta de valor, y una propuesta a las personas que motive a los que trabajan con o para la compañía a ejecutar la estrategia.

North America Industry Classification Standard (NAICS)

many companies fail to deliver exceptional value because they are obsessed by the novelty of their product or service, especially if new technology plays a part in it.

Standard Industrial Classification (SIC)

Value innovation, not technology innovation, is what opens up commercially compelling new markets.

The greatest blocks to utility often represent the greatest and most pressing opportunities to unlock exceptional value.

strategy is about confronting an opponent and fighting over a given piece of land that is both limited and constant.

buyers from all markets had a basic set of needs and expected similar services. If you met those common needs, customers would happily forgo everything else.

when a company offers a leap in value, it rapidly earns brand buzz and a loyal following in the marketplace. Even large advertising budgets by an aggressive imitator rarely have the strength to overtake the brand buzz earned by the value innovator.

The traditional units of strategic analysis—company and industry—have little explanatory power when it comes to analyzing how and why blue oceans are created. (..) The most appropriate unit of analysis for explaining the creation of blue oceans is the strategic move—the set of managerial actions and decisions involved in making a major market creating business offering.

What a blue ocean strategist recognizes, and what most of us all too often forget, is that while industry conditions exist, individual firms created them. And just as individual firms created them, individual firms can shape them too

As of yet there has been no theory or process for true strategy creation.

Moreover, when you ask existing customers, "How can we make you happier?" their insights tend toward the familiar, such as "Offer me more for less." But this focus almost always drives you to merely offer better solutions to your industry's existing problem, keeping you trapped in the red ocean.

A market becomes stagnant and develops a growth problem as the number of soon-to-be noncustomers increases

While good strategy content is based on a compelling value proposition for buyers with a robust profit proposition for the organization, sustainable strategy execution is based largely on a motivating-people proposition.

Value innovation requires companies to orient the whole system toward achieving a leap in value for both buyers and themselves.

Competition is only good up to a point. When supply exceeds demand

stop looking to the competition. Value-innovate and let the competition worry about you.

Focus on innovating at value, not positioning against competitors

Blue ocean shift is a systematic process to move your organization from cutthroat markets with bloody competition—what we think of as red oceans full of sharks—to wide-open blue oceans, or new markets devoid of competition, in a way that brings your people along.

Simply put, there is no substitute for meeting and listening to dissatisfied customers directly.