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Blue Ocean Strategy, Expanded Edition: How to Create Uncontested Market Space and Make the Competition Irrelevant Hardcover – Jan 20 2015

5.0 out of 5 stars 3 customer reviews

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Product Details

  • Hardcover: 256 pages
  • Publisher: Harvard Business Review Press; Revised ed. edition (Jan. 20 2015)
  • Language: English
  • ISBN-10: 1625274491
  • ISBN-13: 978-1625274496
  • Product Dimensions: 3.2 x 15.9 x 23.5 cm
  • Shipping Weight: 458 g
  • Average Customer Review: 5.0 out of 5 stars 3 customer reviews
  • Amazon Bestsellers Rank: #12,667 in Books (See Top 100 in Books)
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Product Description

Review

“A great read for any leader looking to get a real edge in business and establish a real competitive advantage in the market.” — Qantas The Australian Way

Praise for Blue Ocean Strategy:

• A bestseller across 5 continents
• More than 3.5 million copies sold worldwide
• Translated into 43 languages
• A Wall Street Journal, BusinessWeek, and Fast Company bestseller
• Thinkers50 Strategy Award for Best Business Book of the decade
• The Fast Company Leadership Hall of Fame
• Winner of the Carl S. Sloane Award for Excellence in Management Consulting

About the Author

W. Chan Kim and Renée Mauborgne are Professors of Strategy at INSEAD and Co-Directors of the INSEAD Blue Ocean Strategy Institute. They are the authors of Blue Ocean Strategy, which has sold over 3.5 million copies, is being published in a record-breaking 43 languages, and is a bestseller across five continents. They are ranked No. 2 in The Thinkers50 listing of the World's Top Management Gurus and are the recipients of numerous academic and management awards including the Nobel Colloquia Prize for Leadership on Business and Economic Thinking, the Carl S. Sloane Award by the Association of Management Consulting Firms, the Leadership Hall of Fame by Fast Company, and the Eldridge Haynes Prize by the Academy of International Business among others. Kim is an advisor to several countries and Mauborgne is a member of President Barack Obama's Board of Advisors on education.


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Top Customer Reviews

Format: Hardcover Verified Purchase
Great book, dry at places, but it really makes you think, which is the point. I woukd recommend it to any business person responsible for future vision for their company. I bought a copy for each member of my management team to get them thinking too.
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Format: Hardcover Verified Purchase
Sorry I didn't read this years ago. Best business book I've read in a long time.
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Format: Hardcover Verified Purchase
Excellent for small or large business, non profit or personal development.
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Most Helpful Customer Reviews on Amazon.com (beta)

Amazon.com: HASH(0xa6cf7924) out of 5 stars 117 reviews
38 of 38 people found the following review helpful
HASH(0xa6ac2b34) out of 5 stars Excellent tools for generating creative strategies Dec 28 2014
By John Gibbs - Published on Amazon.com
Format: Kindle Edition
In the decade since the first edition of their book was released, the ferocity of competition in existing industries and the pressures on costs and profits have only intensified, according to authors W Chan Kim and Renee Mauborgne in the latest incarnation of their best-selling book, “Blue Ocean Strategy Expanded Edition”. That is why there is a rising call for creative new solutions and such an allure in the idea of escaping from cut-throat “red ocean” markets into competition-free “blue ocean” market space.

While most businesses and organizations are trapped in very difficult competitive environments, there are plenty of examples around of organizations which have carved out their highly profitable blue-ocean niche. Is their success attributable solely to rare strategic brilliance or luck, or is there a systematic way of coming up with winning strategies? According to the authors, there are systematic ways of finding blue oceans, and the book provides a number of tools designed to help the reader do just that.

Blue ocean strategy is fundamentally based on value innovation; that is, finding a new way of providing compelling value to clients or customers by pursuing both differentiation and low cost at the same time. To do this, you identify the different strategic factors applicable to a particular industry, and then select some factors to be reduced well below the industry’s standard, some to be raised, some to be eliminated and some new ones to be created. The result of the process needs to be a focused strategy which diverges significantly from the industry’s average profile, and which comes with a compelling tagline.

However, a truly sustainable blue ocean strategy also needs barriers to imitation. These can include:

• Alignment barriers, making it difficult for competitors to align their value proposition, profit and people in the same way
• Cognitive and organizational barriers, whereby the particular form of value innovation conflicts with competitors’ conventional logic
• Brand barriers, whereby the value innovation conflicts with competitors’ brand image
• Economic and legal barriers, such as patents, a natural monopoly or a cost advantage driven by high volume

While not every reader of the book will discover a perfectly formed blue ocean strategy, almost every reader who spends time and effort working through the tools provided by the authors will come up with some creative strategic ideas which might not otherwise have arisen. This is one of my favourite books on strategy and, although the changes between the first edition and the expanded edition are not substantial, they are still enough to justify the price of buying the new edition.
30 of 31 people found the following review helpful
HASH(0xa676da68) out of 5 stars The Book that Changed my Life!! Feb. 3 2015
By Bill Kimbrell - Published on Amazon.com
Format: Hardcover
Wow! This new, expanded edition is even better! I read Blue Ocean Strategy in 2005 after retiring from building my own surgical equipment business. I was so impressed that I contacted the 2 professors at INSEAD who wrote the book, expecting to never hear back. The next day I received an email from Professor Renee Mauborgne thanking me for my praise for their book and inviting me to enter the rigorous qualification process for the Blue Ocean Strategy Network. Long story short, there were over 800 applicants from 26 countries; 60 of us qualified and I, somehow, slipped through the cracks. It has been a most gratifying, fulfilling 2nd career---I have given keynote speeches on BOS all over the world and consulted with, conducted BOS workshops for Fortune 500 companies, showing them how to escape the cutthroat competition of bloody RED OCEANS, and how to create new, uncontested market space a la BLUE OCEANS.
This book changed my life. And I am not alone...over 3.5 million copies have sold in 43 languages. Now, this new, expanded edition gives concrete evidence that the BOS analytic tools and framework do actually work! As a businessman and business owner over 31 years, I spent an inordinate amount of time in bloody Red Oceans. The chapter on Red Ocean Traps is more than worth the price of the book. If I had had the benefit of Blue Ocean Strategy back when I was working night and day building my own business, I would have not only been more successful, but I would have been dangerous!
I highly recommend this expanded edition to everyone in business, nonprofits, and even government who want to, who need to radically change the status quo.

Bill Kimbrell
Lexington, KY
Author of CODE 936
14 of 15 people found the following review helpful
HASH(0xa698acfc) out of 5 stars A book to lead a paradigm shift in strategy theory and practice Feb. 17 2015
By Thomas Z - Published on Amazon.com
Format: Hardcover
I've just finished reading the expanded edition of blue ocean strategy. Compared with the original edition, which I have read many times and which has completely reshaped the way I see and approach business, the new book strikes me as offering an even more comprehensive guide for systematically pursuing value innovation and profitable growth.

What impresses me the most is the articulation about strategy in terms of three strategy propositions - value, profit and people and the emphasis on the alignment of these three propositions. This new definition of strategy not only subsumes those of traditional strategy theories (as its overarching principles apply to both blue ocean and red ocean strategies), but also for the first time --among all the strategy works I am aware of -- connects the scientific analytic of strategy content with the human dimension of strategy in action and makes the latter an integral part of strategy itself. Any strategy is ultimately about people, as it is made by people and executed by people. This is a major observation I have made from years of business experience. This was also why the original edition of blue ocean strategy, with its call for "building execution into strategy" already struck a chord with me ten years ago. Now the expanded edition highlights this point with a full-fledged framework and a thorough guide on how the people dimension of strategy should be addressed upfront and in the course of strategy making along with building a compelling value proposition for the buyers and a viable profit proposition for the company. How an organization achieves a strategic transformation is no longer a question merely in the realm of change management. It is built into the strategy making process itself. The book applies this principle to analyzing interesting practical examples, like Tata Nano. The explanation given about the setback of Tata Nano is really eye-opening and solves the puzzle in my mind as to why this fascinating concept of the people's car, after creating a lot of positive buzz worldwide, failed to make a real breakthrough in the market.

To me this new edition is more than an expansion of the original content of the book. It should lead a new wave of paradigm shift in the field of strategy, both in theory and practice.
10 of 11 people found the following review helpful
HASH(0xa6a266f0) out of 5 stars Fluffy, not helpful Nov. 11 2015
By Brandie - Published on Amazon.com
Format: Hardcover Verified Purchase
Some may not count this as a review because the book was so worthless to me I had to stop reading not even half way through & skimmed through the rest trying to find something to learn. I've read such great reviews on this book so I forced myself to keep reading to the point that I couldn't anymore and would pass out if I read about Cirque du Soleil once more.

The problem with it is there is no actionable steps. It tells you what other companies did but not in depth on how they did it & not even a little bit of how to implement the steps yourself. Pure fluff. Simple as that.
3 of 3 people found the following review helpful
HASH(0xa6993ce4) out of 5 stars Inspiration and two good models July 16 2015
By investingbythebooks - Published on Amazon.com
Format: Hardcover
During the summer InvestingByTheBooks will review some older books that we never got around to writing about although we think they are important. With their innovative and fresh perspective on strategy the two INSEAD Professors Chan Kim and Renée Mauborgne has created a modern classic with their Blue Ocean Strategy. When it comes to corporate strategy most academic models focus on how to gain an advantage over competition in a given market. The blue ocean strategy instead aims to break away from competition by developing new value propositions and, through this, new markets.

In studying companies and their fates the authors came to the conclusion that neither the companies nor the industries accurately described the roots of differences in performance – instead it was down to the so called strategic moves, i.e. managerial actions creating a new business offering and a new market. In a study they researched the strategic moves of over 150 companies in 30 industries trying to unveil the common factors that lead to some companies developing value innovations that opened up unexploited markets, making previous competition irrelevant.

Despite a history that has shown constant changes in the business environment and the success of companies, most managers are mentally locked into the current industry structure focusing on how to beat their competitors. The authors symbolize this environment with the metaphor of a red ocean, an ocean where companies fight each other and where the water is colored red by the bitter combatants’ blood. If you instead take the view that the world is in constant change and innovative companies often create new markets the question becomes how to execute this creation of a new blue ocean where a company – at least temporary - can swim alone without competition.

In the key second chapter the authors present a set of analytical tools to help companies to come up with value innovations to reshape their business. The main two are the Strategy Canvas mapping the various factors that the industry is currently competing on and the Four Actions Framework asking four questions: “1) Which of the factors that the industry takes for granted should be eliminated? 2) Which factors should be reduced well below the industry’s standard? 3) Which factors should be raided well above the industry’s standard? and 4) Which factors should be created that industry never has offered?”. Building on this foundation the rest of the chapters expand on the task by showing how to find a blue ocean of sufficient size, how to build a viable business model around it and how to overcome the inevitable external and internal obstacles.

Rereading the book I must admit that not all of the text is entirely original and although it’s nice that The Blue Ocean is an easy read, the book frankly lacks depth. I would argue that apart from “strategic moves”, industry dynamics and economy also matter hugely. If you are selling commodities like iron ore or oil, finding blue oceans becomes fairly tricky.

Nevertheless, it’s a book that has become an integral part of the strategy literature canon and in Michael Porter-terms, the authors undoubtedly found an underserved niche in the strategy literature industry with their focus on the creation of brand new markets. The book is quite practical and gives the appropriate weight to strategy execution and not only strategy formulation. The core models are perhaps just two, but they are useful as they make the reader start thinking in new directions and in this respect The Blue Ocean fulfills its purpose. I also quite like the approach of writing a book for the brave, for those who want to make a big difference instead of doing marginal improvements within given limits. This doesn’t mean breaking away, making competition irrelevant, is an easy thing to do just because you try. But if you don’t try you’ll never succeed.

We recommend the book for inspiration rather than a mass of new insight.

This is a review by investingbythebooks.com


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