Blue Ocean Strategy - Universal Business School by Prof. Vijay Tandon
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The document discusses the concept of blue ocean strategy, which involves creating new market space by making competition irrelevant rather than competing head-on in existing markets. It contrasts blue ocean strategy with red ocean strategy, where competition is intense in existing markets. Blue ocean strategy uses the four actions framework of eliminate, reduce, raise and create to break the value-cost trade-off and drive costs down while increasing value for buyers. Examples are given of companies like Yellow Tail wines that successfully created blue oceans by applying this approach.
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Blue Ocean Strategy - Universal Business School by Prof. Vijay Tandon
- 2. Your Strategy Needs A Strategy Vijay Tandon on Blue Ocean Strategy @ UBS Prof. Vijay Tandon Director – PGDM/PGCM/PGPM Program Universal Business School Subject - International Business Management Topic - Blue Ocean Strategy (Part 1)
- 3. A Strategy against All Strategies Vijay Tandon on Blue Ocean Strategy @ UBS
- 4. What is the colour of your strategy canvas? RED BLUE OR Vijay Tandon on Blue Ocean Strategy @ UBS
- 5. RED OCEAN Why the ocean is red Vijay Tandon on Blue Ocean Strategy @ UBS What makes the Ocean BLOODY RED?
- 6. BLOODY RED OCEAN Aggressive/Intense/cut throat competition Vijay Tandon on Blue Ocean Strategy @ UBS
- 7. Competitors compete for customers RED OCEAN - There is one market Vijay Tandon on Blue Ocean Strategy @ UBS
- 8. BLUE OCEANHow to make competition irrelevant Vijay Tandon on Blue Ocean Strategy @ UBS
- 9. What is BLUE OCEAN STRATEGY? Vijay Tandon on Blue Ocean Strategy @ UBS
- 10. Tomorrows leading companies will succeed not by battling competitors , but by creating BLUE OCEANS Vijay Tandon on Blue Ocean Strategy @ UBS Strategic Approach – A strategic shift
- 11. How to create uncontested market space There is no competitor Make the competition irrelevant Vijay Tandon on Blue Ocean Strategy @ UBS
- 12. BLUE OCEAN VS. RED OCEAN Vijay Tandon on Blue Ocean Strategy @ UBS
- 13. RED OCEAN BLUE OCEAN • Known market space • Many competitors • Fight for market share • Unknown market space • Few competitors • Create market share Cut throat competition turns the Ocean bloody red New market makes competition irrelevant Vijay Tandon on Blue Ocean Strategy @ UBS
- 14. “Bloody competition to take a larger share in the market” RED OCEAN BLUE OCEAN “Why compete when you don’t have to?” Vijay Tandon on Blue Ocean Strategy @ UBS
- 15. Compete in existing market place Beat the competition Exploit existing demand Make the value-cost trade off Align organization - Low cost or differentiation Create uncontested market place Make the competition irrelevant Create & capture new demand Break the value-cost trade off Align organization - Low cost & differentiation Defend current position perspective Innovate & pursue new opportunities perspective RED OCEAN BLUE OCEANVS. Vijay Tandon on Blue Ocean Strategy @ UBS
- 16. How to get out of Bloody RED Ocean? Rivals are fighting over a shrinking profit pool Vijay Tandon on Blue Ocean Strategy @ UBS
- 17. Your choice: Live in a red ocean of aggressive competitors Or move to a blue ocean & make competition irrelevant Vijay Tandon on Blue Ocean Strategy @ UBS
- 18. Strategic Choice BLUE OCEAN Vijay Tandon on Blue Ocean Strategy @ UBS
- 19. Make your competition irrelevant Don’t compete Vijay Tandon on Blue Ocean Strategy @ UBS
- 20. Value Innovation - The cornerstone of BOS Cost savings are made by Eliminating & Reducing competing factors Buyer value is lifted by Raising & creating new elements the industry has never offered Driving costs down while simultaneously driving value up for buyers Imagination is more important than knowledge – Albert Einstein Vijay Tandon on Blue Ocean Strategy @ UBS
- 21. 01 02 03 04 BLUE OCEAN STRATGEY The four actions framework ELIMINATE REDUCE RAISE CREATE Vijay Tandon on Blue Ocean Strategy @ UBS
- 22. The four actions framework (BLUE OCEAN MATRIX) 1 24 3 ELIMINATE REDUCE What can we ELIMINATE? What can we RAISE? What can we REDUCE? What can we CREATE? Vijay Tandon on Blue Ocean Strategy @ UBS
- 23. The four actions framework E R CR • Factors industry takes for granted should be eliminated Eliminate • Which factors should be reduced well below industry’s standard Reduce • Which factors should be raised well above industry’s standards Raise • Which factors should be created that industry has never offered Create New value curve Vijay Tandon on Blue Ocean Strategy @ UBS
- 24. Structuralist view vs Reconstructionist view Conventional vs Unconventional thinking Market boundaries & industry structure are not given & can be RECONSTRUCTED Vijay Tandon on Blue Ocean Strategy @ UBS
- 25. How to surf in the BLUE OCEAN The key challenges Vijay Tandon on Blue Ocean Strategy @ UBS
- 26. Companies that successfully created BLUE OCEANS Vijay Tandon on Blue Ocean Strategy @ UBS
- 27. Companies that successfully created BLUE OCEANS Vijay Tandon on Blue Ocean Strategy @ UBS
- 28. How Yellow tail wines an Australian wine maker Created their BLUE OCEAN in the USA FROM A MATURE MARKET TO A BLUE OCEAN Vijay Tandon on Blue Ocean Strategy @ UBS
- 29. From an occasional drink to a SOCIAL DRINK…. Vijay Tandon on Blue Ocean Strategy @ UBS
- 30. Broke the strategic profile Vijay Tandon on Blue Ocean Strategy @ UBS Instead of offering Wine as a Wine. Casella created a social drink accessible to everyone
- 31. How Yellow tail used the 4 framework BLUE OCEAN • Raised • Eliminated • Reduced • Created Four Pillars Vijay Tandon on Blue Ocean Strategy @ UBS
- 32. MADE THEIR COMPETITION IRRELEVANT FROM A MATURE MARKET TO A BLUE OCEAN ELIMINATED: Oenological terminology & distinctions, aging qualities & above the line marketing REDUCED: Wine complexity, wine range, vineyard prestige RAISED: Price versus budget wines, simplicity of retail store environment, enthusiasm of sales people CREATED: Easy drinking, ease of selection, sense of fun & adventure Fastest growing brand in the histories of both Australian and US wine industries Vijay Tandon on Blue Ocean Strategy @ UBS
- 33. Don’t use competition as the benchmark Follow strategic logic – VALUE INNOVATION The right strategic move opens doors to BLUE OCEAN Vijay Tandon on Blue Ocean Strategy @ UBS
- 34. TIER I “Soon-to- be” Tier II Refusing Tier III Unexplored Soon to be non-customers who are on the edge of your market waiting to jump ship Refusing non-customers who consciously choose against your market Unexplored non-customers who are in market distant from yours 3 Tiers of Non-customers Reach beyond existing demand Go for the largest catchment of non-customers Vijay Tandon on Blue Ocean Strategy @ UBS
- 35. The only way to beat the competition is stop trying to beat the competition RENEE MAUBORGNE & W Chan Kim Vijay Tandon on Blue Ocean Strategy @ UBS
- 36. If you try to remain unique, you will be the only one If you try to be the best, you will be number one Vijay Tandon on Blue Ocean Strategy @ UBS
- 37. If you will compete, you will be number one, but if you create you will be the only one. Vijay Tandon on Blue Ocean Strategy @ UBS
- 38. BLUE OCEAN Is the Vijay Tandon on Blue Ocean Strategy @ UBS
- 39. THANK YOU Vijay Tandon on Blue Ocean Strategy @ UBS