Quotes About Innovation

This is not to suggest that companies will suddenly stop competing or that the competition will suddenly come to a halt. On the contrary, the competition will be more present and will remain a critical factor of market reality. As captured on the dynamic PMS map, red ocean and blue ocean strategies are complementary strategic perspectives, with each serving different and important purposes.

adopting a blue ocean creator's business model is easier to imagine than to do. Because blue ocean creators immediately attract customers in large volumes, they are able to generate scale economies very rapidly, putting would-be imitators at an immediate and continuing cost disadvantage.

Once a company creates a blue ocean and its powerful performance consequences are known, sooner or later imitators appear on the horizon.

the cornerstone of blue ocean strategy. Value innovation, not innovation per se

When organizations fail to register the difference between value innovation and innovation per se, they all too often end with an innovation that breaks new ground but does not unlock the mass of target buyers

Effective blue ocean strategy should be about risk minimization and not risk taking

The lesson: noncustomers tend to offer far more insight into how to unlock and grow a blue ocean than do relatively content existing customers.

Attempts to imitate a blue ocean creator conflict with the imitator's existing brand image.

The aim of blue ocean strategy was straightforward: to allow any organization—large or small, new or incumbent—to step up to the challenge of creating blue oceans in an opportunity-maximizing, risk-minimizing way

The only way to beat the competition is to stop trying to beat the competition.

Blue ocean strategy does not see competition as bad. However, unlike traditional economic thought, it does not see competition as always good.

we have observed a consistent pattern of strategic thinking behind the creation of new markets and industries, what we call blue ocean strategy.

What we look for determines what we see. When we assume that the only way we can create a new market is by disrupting an old one, opportunities for nondisruptive creation can be easily missed. People tend to focus their attention on the core of existing markets and what it would take to disrupt the existing order. This narrows their vision and blinds them to the wealth of nondisruptive market-creating moves they could make.

In our experience, the more an industry is populated by settlers, the greater is the opportunity to value-innovate and create a blue ocean of new market space.

Red oceans may not be the paths to future profitable growth, but they feel comfortable to people and may have even served an organization well until now, so why rock the boat?

to win in the future, companies must stop competing with each other. The only way to beat the competition is to stop trying to beat the competition.

The more that companies share this conventional wisdom about how they compete, the greater the competitive convergence among them.

Tal como nos decía uno de los ejecutivos de Virgin Group, «no debemos permitir que lo que podemos hacer ahora condicione nuestro punto de vista sobre lo que se necesita hacer para ganar mañana. Nuestro enfoque es de pizarra limpia».

When exceptional utility is combined with strategic pricing, imitation is discouraged.

The cost and risk of developing an innovative idea are borne by the initiator, not the follower.

executives are often reluctant to accept the need for change; they may have a vested interest in the status quo, or they may feel that time will eventually vindicate their previous choices. Indeed, when we ask executives what prompts them to seek out blue oceans and introduce change, they usually say that it takes a highly determined leader or a serious crisis.

To reach beyond existing demand, think noncustomers before customers; commonalities before differences; and desegmentation before pursuing finer segmentation.

By focusing on the key factors that lead buyers to trade across alternative industries and eliminating or reducing everything else, you can create a blue ocean of new market space.

The creators of blue oceans, surprisingly, didn't use the competition as their benchmark.17 Instead, they followed a different strategic logic that we call value innovation. Value innovation is the cornerstone of blue ocean strategy. We call it value innovation because instead of focusing on beating the competition, you 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.