Motivational Videos - the Blue Ocean Strategy
Rather than swimming in an ocean of competitors, the Blue Ocean Strategy (a book and executive summary by the Harvard Business Review) demonstrates how companies have created innovation and have made the competition irrelevant. Brands like Yellow Tail Wine, Cirque de Soleil, Starbucks, iPod and iTunes, Dell computers, Callaway Golf, NetJets, CNN and Curves...all doing something different that stood them apart.
These companies are asking a series of questions that are different than anybody else. Blue Ocean Strategy is contained in three basic concepts:
- Eliminate and reduce factors the industry has long competed on
- Raise and create factors the industry has never offered
- Simultaneously pursue differentiation and low cost.
In these three strategies, you create value innovation and make the competition irrelevant.
I love the story of the NY Public Library, where these innovators not only looked at what was happening at other libraries, but also looked across the industry at people in theater, music, ballet and television shows, and took some elements from each and reconstructed a whole new market space. They grew demand, pulled in many new customers to the industry, and experienced an increase in attendance of 380%. And they created a buzz and benefitted from free marketing! Blue Ocean Strategy calls this first path. We can all benefit from this kind of creative innovation!
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